BY SANAULLAH
DOHA: A local charitable body with assets in excess of QR1bn ($274m) says it has enough funds of its own so it does not accept donations to do social good in Qatar as well as outside.
Jassim and Hamad Bin Jassim Charitable Foundation said it planned to launch several charitable projects in the areas of health and education in poor countries.
A deal is to be struck soon with an Indian charity organisation to build a polytechnic in India as a first project to cater to poor students, Saeed Al Hajri (pictured), Chief Executive Officer (CEO) of the Foundation, said.
The project will cost QR2.5m. The Indian organisation has acquired enough land. And the Foundation will have to finance constructing the college building on it, said Al Hajri.
The foundation not only plans to build schools, colleges and hospitals to serve the needy people but also help operate those facilities, hinted Al Hajri.
“As per our new strategy, we will build the projects and operate them because we believe that the poor beneficiary communities cannot afford to do that,” said Al Hajri.
If the facilities are handed over to them after completing the construction they probably cannot operate, especially in the initial years. “So for sure, we will help them operate.”
The foundation does not accept donations. “We rely on returns on our investments to finance our charity projects rather than approach donors,” said Al Hajri.
The foundation has made investments worth about QR500m in real estate. With a huge donation made by Sheikh Hamad bin Jassim, the assets of the foundation have soared more than QR1bn, he added.
The Peninsula
