The Pearl Initiative, King Khalid Foundation And Bill & Melinda Gates Foundation Collaborate Work To Boost Governance In Philanthropy In Gulf Region

The Pearl Initiative, a leading Gulf-based non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, has launched its latest programme ‘Corporate Governance in the Philanthropic Sector’, with grant support from the Bill & Melinda Gates Foundation.

The announcement comes amidst a rise in philanthropic initiatives in the region, demonstrated by the UAE’s declaration of 2017 as the Year of Giving and the Saudi Vision 2030 commitment to developing the non-profit sector. Notably, global consulting firm Strategy& estimates that the philanthropic donations of the 100 largest family businesses in the GCC region amount to around US$7 billion annually, and the 2017 Charities Aid Foundation World Giving Index ranked the UAE among the top ten most generous nations in the world for giving  on a per capita basis.

Badr Jafar, Founder of the Pearl Initiative, said: “We are grateful to the Bill & Melinda Gates Foundation for partnering with us in this critical area of our region’s governance landscape. We are honoured to earn recognition for our efforts in promoting corporate governance with this grant for our new Corporate Governance in the Philanthropic Sector programme.”