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Commenting on the goodwill initiative of DIB, Abdul-Razzaq Al-Abdullah, Chief Executive Officer of Dubai Islamic Foundation, said:
"The Dubai Islamic Foundation is a one-of-its-kind non-profit and humanitarian institution, which works towards easing the financial burden on poor and needy individuals providing them with appropriate assistance, whether they are citizens or residents. We have provided more than Dhs10m in goodwill financing this year for nearly 1,000 people, which has helped solve problems of personal finance and contributed to a better socio-economic balance in the UAE."
He added: "The institution is actively involved in identifying and promoting new humanitarian initiatives, with the ultimate intention of building a society held together by strong common values of love and brotherhood, which is also one of the founding principles of our parent organisation DIB. As a leading financial institution working for the development of society at large, DIB is a unique organisation where the best of business and charity practices come together to contribute to a solid economy and a sound society."
Goodwill financing is the only product that Dubai Islamic Bank currently provides through Dubai Islamic Foundation. The main objective behind setting up the goodwill financing fund is to help the bank's clients overcome challenges with regards to their personal finances. The fund does not seek any profit for this meritorious service.
Dubai Islamic Foundation was founded in September, 2007, and the areas of the institution's work currently include distribution of Zakat, strengthening of its goodwill financing fund which aims to address issues of personal financial challenges, as well social philanthropy through a number of community activities carried out by other similar authorities and institutions.
Posted by Nadeen El Ajou
