The Award's board of trustees and specialised committees are now meeting regularly to set the standards and qualification requirements for each category and for the judging of applicants' entries.

They are also visiting universities and colleges to promote the award among academic professionals and students.

"Mawarid has gone closer to finalising participation standards and qualification requirements for each category, as well as processing judging standards and organising the presentation event for winners" said Rehab Lootah, Mawarid's head of business development and corporate communications who chairs the Tamaiaz Award executive committee.

"Our visits to targeted universities and colleges are being highly appreciated by deans, professors and academic committees who are committing their whole-hearted support to this ambitious project.

"They recognise the Tamaiaz Award as a leading initiative by a private company in defining creative talents among their students and fresh graduates, preparing them to enter the career market in the private sector in full readiness and with the required qualifications".

Mawarid has launched the Tamaiaz Award as part of its policy to be an active contributor to the Emiratisation drive in the private and public sectors. Its new award is designed to enrich the competitive spirit in science and education and fill the traditional gap between academic knowledge and job market requirements.

The company seeks to boost the competitiveness and creativity of UAE nationals pursuing higher education degrees in UAE universities and colleges, encouraging and rewarding creativity and innovation among students and new graduate Emirati citizens, in turn boosting their chances of finding suitable jobs to match their skills.

Mawarid has dedicated an annual budget of AED 1 million to the award, which covers seven categories: media and mass communications, banking and finance, accounting and auditing, sharia'a and law, information technology, marketing and sales , and leadership. Students and graduates are invited to submit innovative projects that will be judged by the Tamaiaz Award committees.

Mawarid Finance is a private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.