Ajman University of Science and Technology issued the following announcement on May 28.
During AU’s “Dinner of Hope” earlier this month, His Highness Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council, Ruler of Ajman, and Chairman of Ajman University’s Board of Trustees, commended Mr. Fathy Afana for the launch of the Fathy Afana Scholarship Fund – the institution’s inaugural named-endowment.
Renowned businessman and philanthropist Fathy Afana, CEO of Fast Building Contracting Company, provided the scholarship to ensure that bright students have the opportunity to participate in higher education despite economic barriers.
“We are extremely grateful for his incredibly generous contribution. This named fund will empower students and change the trajectory of their lives,” said Dr. Karim Seghir, Chancellor of Ajman University. “Sustainable scholarship funding is in a hallmark of excellence in higher education. We are delighted that the Fathy Afana Scholarship Fund opens these doors for AU.”
The principal of Fathy Afana’s gift will be kept in perpetuity by Ajman University with accrued revenues being used to fund scholarships for students of Palestinian origin who excel academically but face obstacles financially. AU’s Board of Trustees have agreed that AU will match the earnings accrued from his donation in order to double the yearly amount of available funding.
Founded in 1988 as the first private institution of higher education in the United Arab Emirates and the Gulf region, Ajman University is now being recognized as an emerging leader on the global academic map.
Original source: https://www.ajman.ac.ae/en/news/2019/au-launches-new-endowed-scholarship-fund-named-for-renowned-entrepreneur-fathy-afana.html
