Press Release

Gulf Capital, a leading regional alternative investment corporation with over 300 Saudi, UAE and Arab shareholders, has today announced the launch of its Social Responsibility Program with the sponsorship of eight talented Saudi students in cooperation with Ma’arif schools for Education and Training.

Gulf Capital and Ma’arif, have joined hands to offer a full tuition scholarship for three academic years for students from the Saudi Society for the Care of Orphans (Ensan). Working closely with the Society, the scholarship candidates were identified based on merit and need. The students who were enrolled in Manarat Al-Riyadh Schools, owned by Ma’arif, will be granted the full tuition fee in addition to transportation, books and educational materials.

Gulf Capital Social Responsibility Program aims to help make a difference in the lives of people in the Arab region through initiatives in education, healthcare, water and the environment.

Gulf Capital has arranged investments by its investors in Ma’arif as well as five other companies in the healthcare, education, water and energy sectors around the region.

Dr. Karim El Solh, Chief Executive Officer of Gulf Capital said: “The Board of Directors of Gulf Capital has decided to launch this program as our response to supporting the Arab communities in which we live and work, as well as to help improve the quality of life of the underprivileged. Such corporate social responsibility programs will become a core to our business strategy and initiatives. We are proud to partner with Ma’arif and Ensan on such a worthy cause and to support the education of the youth in the Kingdom.”

He said that Gulf Capital Social Responsibility Program will invest charitably the time, talent, and treasure of Gulf Capital and its employees in meaningful, measurable, and transparent initiatives that contribute to the sustainable development of Arab communities. Dr. Karim El Solh added that the Social Responsibility Program of Gulf Capital will extend to other parts of the region through a number of projects which the company will be announcing soon.

The current donation of around SAR 500,000 from Gulf Capital and Ma’arif to Ensan Society for Orphans’ Welfare aims to provide a better education for the underprivileged children.

An agreement was signed yesterday at a special ceremony between Gulf Capital, Ma’arif and Ensan at Manarat Al-Riyadh Schools in Al-Izdihar District in Riyadh. The ceremony was attended by a delegation from Ensan Society for Orphan’s Welfare, headed by Saleh Bin Abdullah Al-Yousuf, General Manager of Ensan Society for Orphan’s Welfare and consisting of Abdullah Bin Rashed Al-Khaledi, Assistant General Manager for the Branches Affairs, Othman Bin Ali Al Abdullah, Manager of the North Riyadh Branch, and Abdul-Rahman Bin Mohammad Al-Qahtani, who is responsible for the family relationships and educational and health care at the Research and Social Services Department. It was also attended by Dr Karim El-Solh, CEO Gulf Capital, Ashraf El-Guindi, Chairman of the Executive Board of Ma’arif Schools, and Dr. Mohamed bin Ahmed Al Arfaj, Vice President for Academic Affairs at Ma’arif.

Saleh Bin Abdullah Al-Yousuf said at the signing ceremony: “From its inception Ensan has been dedicated to providing its services to all orphans in need, and we are delighted to partner with Gulf Capital and Ma’arif to educate our eight students in one of the most prestigious schools in the Kingdom. Such support enables the charity to even do more for our orphans. This scholarship program is exemplary, and we hope that more companies from the private sector come forward with similar initiatives to contribute to the society at large.”

Ashraf Elguindi, Chairman of the Executive Board said: “We are pleased to be contributing with Gulf Capital to the education of these talented young Saudis through our collaboration with a reputable social welfare society such as Ensan. It is heartwarming to be able to integrate these top students in our schools, which we hope will play an inspiring, informing and enabling role in their lives in order for them to grow into becoming active members of our society.”

Dr. Mohamed bin Ahmed Al Arfaj, Vice President for Academic Affairs at Ma’arif, added: “This agreement will go a long way to changing the lives of these students. We are looking forward to seeing more top schools in the Kingdom opening their doors to similar initiatives and to giving opportunities to more underprivileged students.”