Blog - Foloosy

Abdullah Al Ghurair pledges one third of his assets to launch Abdullah Al Ghurair Education Foundation

10.07.2015
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Initial budget of AED4.2 billion over the next 10 years
One of the largest privately funded philanthropic education initiatives in the Arab world, devoted to equipping Arab youth with the knowledge and skills they need to fulfill their promise as the future leaders of the region
Initiative to benefit more than 15,000 university gifted students from less privileged backgrounds in the UAE and Arab world
Foundation to support programs aimed at increasing innovation and rewarding excellence in education

Reflecting his commitment, dedication and on the occasion of UAE Humanitarian Work Day 2015, one of the UAE’s most […]

5 things to do when you are new to UAE

17.11.2014
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UAE has become one of the expat hotspots attracting people across the globe.  There are numerous things to do for all you first time visitors in UAE.

1. Understand the law

Every individual who’s new to UAE must learn about the laws and formalities to be followed stringently. Understanding laws and regulations in a place like UAE is very important as breaking them can endure no excuse.

2. Job hunting

In case one is planning to relocate to UAE, the first and foremost thing to be done is secure your job. To begin with, one […]

What is Islamic Banking?

17.11.2014
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What is Islamic Banking?

Islamic banking is a commercial activity that is consistent with Islamic Law or Sharia’h (Fiqh Mualamat) which is ‘the Islamic rules on financial / large commercial transactions’. One of the highlights of Islamic Banking is that it promotes a greater degree of fairness and equity in the conduct of business.

What is riba?
Riba is paying or charging interest on a loan or deposit. Any amount, big or small, over the principal, in a contract of loan is ‘riba’ which is prohibited by the Holy Quran and Sunnah, regardless of whether the […]

New to UAE

16.11.2014
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Just moved here, or about to? Among the countless things to sort, financial practicalities should top your list. Until you have a bank account, for example, other processes are hard to complete.

Below are four key initial steps. You’ll soon discover the first is essential. The UAE is fairly structured when it comes to administrative matters: you’ll need to carry a lot of paperwork, and spend time in government customer service centers.

This summary gets you started, and focuses on those first steps. There’s obviously much more to organise, from renting somewhere to live, to […]