Dalma Capital Management ('Dalma Capital'), a DIFC registered and DFSA regulated entity, today announced the finalization of an innovative donation agreement - possibly the first of its kind - with Emirates Foundation, the national foundation of the UAE.
Describing the agreement, Howard Leedham, the CEO of Dalma Capital, said: "The ingenuity of our agreement is that it is specifically structured to permit qualified UAE institutions, citizens and residents to trigger a donation by Dalma Capital to Emirates Foundation without it costing the investor a single Dirham. This is a unique way of
undertaking our Corporate Social Responsibility and in doing so provide our clients with an indirect way to participate."
Leedham elaborated: "Dalma Capital manages a hedge fund here in the UAE so we thought it appropriate to correlate our own UAE generated business growth with giving to Emirates Foundation that works to develop youth in the UAE. To that end we have agreed to donate 15% of the UAE-sourced fees that our fund generates for our company, to the Foundation."
The Chief Executive Officer of the Emirates Foundation, Clare Woodcraft-Scott stated, "We were delighted when Dalma Capital approached us with this unique form of support which is the first of its kind for Emirates Foundation. We work to guide, inspire and empower youth and believe that connecting with the private sector in this area is critical. As a result we are always happy to partner with financial institutions who can provide funding and insights into youth development notably around employment opportunities. We are also keen to promote innovation in philanthropy so are delighted to see innovation coming from a local finance house keen to give back to the community in which it lives and operates."
Leedham commented: "At Dalma Capital we are keen to create an opportunity that enables our company to contribute to the local community inside the UAE." Leedham emphasized: "We appreciate that our fund must be taken on its own merits but this programme specifically ensures that any return of investment to which the investor is entitled is completely unaffected by our donation, it is solely Dalma Capital that bears the cost of donation. We
are delighted to have the opportunity to give back to the community to support such a critical area as youth development."
Salem Al Matroushi, an Emirati shareholder in Dalma Capital, stated: "I am delighted that Dalma Capital is supporting the development of the social fabric of the UAE and their choice to work with the national foundation of the UAE, Emirates Foundation."
Woodcraft-Scott concluded: "We are very grateful that Dalma Capital is offering to support our work. Without funding from the private sector we would not be able to work with the over 40,000 young people that we currently do. We do hope that this can turn into a long term commitment to help us deliver on our mission of creating positive and permanent impact on the lives of young people in the UAE."
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