The total size of the offering remains unchanged at 900 million shares, representing 25 per cent of the company’s total issued share capital
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Beit Al Khair Society's biggest ever Ramadan campaign will spend up to Dh90 million, on a variety of charity programmes surrounding the Holy Month.
On Sunday, the society launched its three-month drive. Themed 'We shall amply reward the philanthropists', the line-up of activities and projects will mark the Year of Zayed according to Abdeen Taher Al Awadhi, general director of Beit Al Khair Society.
"Beit Al Khair's Ramadan campaign is targeting around 25,000 vulnerable families this year," Al Awadhi said. "These include 3,537 families on monthly cash allowances, 15,000 indigent students, 533 widows, 470 elderly people, besides patients, people of determination, and emergency cases."
The Dh90 million will be spread over the project line-up over three months starting on the first day of the lunar month of Rajab and ending on the first day of Eid Al Fitr, he added.
"These are apart from several charity projects and initiatives the society is geared up to carry out in the Year of Zayed in view of the spirit of the Holy Month of Ramadan."
The Iftar meal project supplies free and fast meals at the society's Ramadan tents, to tens of thousands of workers, passersby, and those who end up breaking their Iftar outdoors, away from their families."
'Farha' or 'Joy' is one of the society's recent projects, for bringing happiness to listed families and cases during public occasions and holidays, he pointed out. "This includes the Ramadan Meer or Foodstuff scheme, wherein low-income and vulnerable families are provided all their food needs."
The 'Farha' project also includes the Zakat Al Fitr project and eidiya or the cash gift given to the children of listed families as their Eid gift, he explained. "Cash allowances will also be given to families, to purchase new clothes and enjoy the occasion of Eid."
Official records show the society spent Dh83,524,709 on Ramadan projects last year. "These were part of Dh214.5 million in total the society spent on charity projects for the Year of Giving 2017."
"Philanthropists nationwide are urged to support this campaign and give more in the Year of Zayed," Al Awadhi stated.
ahmedshaaban@khaleejtimes.com
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