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Kuwait's CYLKA launches "Advisory Services Endowment" in support of entrepreneurship


DUBAI, 16th January, 2018 (WAM) -- In Cooperation with the Mohammed bin Rashid Global Centre for Endowment Consultancy, Kuwait's CYLKA Social Responsibility and Public Relations has announced the launch of the Advisory Services Endowment in support of entrepreneurship. It will operate through the provision of a series of consultations on communications being funded in the form of an Endowment to the Kuwaiti Business Council in Dubai and Northern Emirates and is being undertaken under the auspices of the Dubai Chamber of Commerce and Industry.

The launch of this innovative Endowment comes in line with the decision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to declare 2018 as the "Year of Zayed", and is in accordance with the Endowment law launched by The Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum , to revive Endowments as a development tool for communities.

CYLKA has now received the Dubai Endowment Sign from the Mohammed bin Rashid Global Centre for Endowment Consultancy, in recognition of its community contribution as a role model in the private sector.

This sustainable community service comes in line with the concept of Innovative Endowment developed by the Centre. This allows the creation of different types of endowments as a developmental tool through the provision of services, products and others and not limiting them to real estate assets, as in the case of traditional endowments.

Saad Al Rubaiaan, Managing Partner at CYLKA, said, "As a boutique consultancy, we at CYLKA take pride in specialising in public relations and corporate social responsibility consultation as core service offerings for both the government and private sectors by designing innovative programmes that are also sustainable in their approach." He added:"CYLKA has become the first Kuwaiti enterprise that has allocated project management, PR and media services to the Kuwaiti Business Council as an endowment. We hope that CYLKA will also inspire the 1,700 Kuwaiti businesses operating in Dubai to serve innovative and sustainable goals."

Dr. Hamad Al Hammadi, Secretary-General of the Mohammed bin Rashid Global Centre for Endowment Consultancy, said, "There are many media platforms and community initiatives that need to develop clear strategies to reach their target audience and achieve their goals.Therefore, the idea of launching an Innovative Endowment in this area has emerged. CYLKA has adopted this endowment by providing the required services in the form of an endowment to the Kuwaiti Business Council in Dubai and Northern Emirates. This model demonstrates the flexibility of the Innovative Endowment compared to the traditional endowment. In the Innovative Endowment, any surplus resources from the need of entities can be used for the benefit of others in the form of an endowment."

The Dubai Endowment Sign was launched by His Highness Sheikh Mohammed bin Rashid as a key initiative of the Global Vision for Awqaf and Endowments and highlights community participation by providing an opportunity to government and private sector institutions to take part in community service through innovative endowments in favour of the development needs of the community.

 

WAM/Esraa Ismail