The ruler of Dubai has ordered the creation of a fund to strengthen the education sector.
Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, has published a new law creating a fund to support the education sector of the emirate.
Act No. 16 of 2017 on the goals, responsibilities and organizational structure of the Dubai Knowledge Fund aims to support the emirate’s strategy in the education sector and help provide funds for educational initiatives and projects.
Sheikh Hamdan bin Muhammad Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, also issued a resolution establishing the Council of the Knowledge Fund.
Ahmad Abdulkarim Julfar was appointed chairman, while the board also included representatives from the Dubai Investment Corporation, the Office for Knowledge and Human Development, the General Secretariat of the Executive Board of Dubai and the Dubai Department of Finance. Anisa Muhammad Al Sharif elected Director General of the Knowledge Fund.
The fund is responsible for managing and investing the allocated funds and assets in accordance with the policies approved by the board of directors. He is authorized to create private enterprises, enter into joint ventures, launch educational projects, invest in existing educational enterprises and allocate land for projects related to education.
