Knowledge Fund: Dubai’s Initiative Towards Becoming a Knowledge-based Economy

 

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has issued a new law to establish a fund to support Dubai’s education sector.

 

The law outlines the objectives, responsibilities and organisational structure of the Dubai Knowledge Fund. The aim of the law is to support the emirate’s vision for the education sector in line with approved policies and strategic plans. Investments and assets in the sector will be boosted. This is turn, would also provide help in securing funds for the educational projects and initiatives in Dubai.

 

Sheikh Mohammed Bin Rashid Al Maktoum, the Crown Prince of Dubai and the Chairman of Dubai Executive Council, had also issued a resolution to create the board of the Knowledge Fund. Ahmed Abdulkarim Julfar has been appointed as the chairman of the Knowledge Fund. Other members of the Fund are representatives of the Investment Corporation of Dubai, Knowledge and Human Development Authority, the General Secretariat of Dubai Executive Council and Dubai’s Department of Finance. Also, one of the members of the Fund includes Anisa Mohammed Al Shareef as the CEO of the Knowledge Fund.

 

The Board of Knowledge Fund has the authority of issuing policies and procedures required to implement this new law.

 

The Knowledge Fund has the authority of establishing private businesses. It can also enter into a joint venture and, also, it can invest in existing educational enterprises. It can launch different educational projects. The Fund is also authorised to allocate land for projects related to education.

 

Arising from the Government of Dubai’s belief in the importance of developing a knowledge society, the emirate has allocated limitless time and effort investing in Education.

 

With this interest, the Knowledge Fund was established by Rashid Al Maktoum in 2007. Acting as a cornerstone, the Fund is enabling the accomplishment of Dubai’s strategic vision through striving towards sustainable development in the emirate.

 

The “Knowledge Fund” as a government entity, since its inception is continuously working on providing an ideal work environment that promotes innovation and creativity. This has made it one of the most promising institutions that are working to build a better future in Dubai. ​

 

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