One Billion Meals in UAE: New Board Invests in Assets, Ensures Highest Returns for the Hungry – News

Sheikh Mohammed announces ‘Modern Investment Strategy’ agency to provide food safety net to millions worldwide

The Billion Meals Donate program’s board of trustees will manage and invest the assets of the largest food aid donation program to ensure the highest recurring returns and create a sustainable source of giving. It will create a “modern investment strategy” to ensure the highest possible returns, and will monitor and review investment policies to ensure compliance with the approved process.

On Sunday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued instructions for the formation of the board. In a post on Twitter, he called the creation of the commission a “crucial step” in reaching as many vulnerable people as possible and providing a food safety net for tens of millions of people around the world.

“The board is tasked with growing and investing the endowment, developing programs to ensure return on investment and informed spending on sustainable food aid locations. The aim is to sustain the impact of this initiative for years to come and create a better future,” he added.

More than 180,000 donors helped exceed the goal of establishing the largest food aid donation fund, raising more than AED1.075 billion during Ramadan. According to the Khaleej Times, the campaign will continue throughout the year to raise more funds to help those in need around the world.

The Board will be responsible for growing and investing the endowment in a way that ensures its sustainability, expands the philanthropy’s reach, and expands its impact. It will strive to achieve the highest recurring return on investment of the endowment’s assets through a Shariah-compliant contemporary Islamic approach, focusing on viable sectors in line with economic growth.

It will also be responsible for analyzing cash requirements and cash flows. It will review and analyze investment risks to minimize risk exposure by examining the viability of potential investments and selecting high-return diversified investments while ensuring compliance with relevant regulations.

The Board will work closely with relevant authorities, the private sector, international organizations and charities to fight hunger worldwide. It will be responsible for establishing sustainable food aid points and implementing feeding programs in impoverished communities around the world, based on data collected from relevant organizations.

It will create processes and regulations based on international best practice, opening doors for contributions from individuals, institutions, corporations, business people and influential philanthropists to maximize their contribution.

It can form committees as needed to support its work and enhance the influence and wider reach of the Endowment.

The 1 Billion Meals Endowment Fund aims to mobilize local, regional and international efforts to implement sustainable programs to fight and eradicate hunger within an institutional framework. The Mohammed bin Rashid Al Maktoum Global Initiative (MBRGI) has worked with a specialized agency to prepare a comprehensive governance framework to ensure the sustainability of the endowment.

The Board of Directors will be chaired by MBRGI Secretary General Mohammed bin Abdullah Al Gergawi. It will have eight members: Hesham Abdullah Al Qassim, Vice-Chairman and Managing Director, Emirates NBD and Chairman, Emirates Islamic Bank; Dr. Ahmad bin Abdulaziz Al Haddad, Grand Mufti and Director, Ifta, Department of Islamic Affairs and Charitable Activities, Dubai; Dubai Fadel Al Ali, Chairman, Financial Services Authority; Saeed AlEter Al Dhanhani, Assistant Secretary-General, MBRGI; Ali Al Mutawa, Secretary-General, Dubai Endowment Fund and Minors Trust; Dr. Mohammed Suhail Al Muhairi, Chief Executive Officer and Managing Director, Dar Al Ber Society; Ali Al Obaidli, Department Head, Engineering Office, HH Sheikh Mohammed Bin Rashid Al Maktoum Private Office; Dr. Abdulrahman Al Sharif, Managing Director, Al Sharif Lawyers & Legal Consultants.