Tuesday, 6 Jun 2023
Agreement signed to establish Tawasul Charitable Organisation in SEZD

Agreement signed to establish Tawasul Charitable Organisation in SEZD

It aims to offer economic help and fund projects for the advantage of nearby communities in the Special Economic Zone in Duqm (SEZD) in specific and Al Wusta Governorate in basic to market sustainable financial and social improvement according to the locations of function defined in its Articles of Association. These contain entrepreneurship, coaching, education for function, well being, atmosphere and supporting associations and sports clubs.

The agreement of ‘Tawasul Charitable Organization’ was signed by officials of eight organizations: Duqm Refinery and Petrochemical Industries Company, Oman Development Company for Economic Zone of Duqm, (Tatweer), Oman Petroleum Development Company, Port of Duqm Company, Oman Dry Dock Company, Oman Airports, Sebacic Oman Company and Nahdat Al Duqm Holding Group.

In the presence of H E Sheikh Mohammed bin Said bin Saif al Kalbani, Minister of Social Development and H E Yahya bin Saeed al Jabri, chairman of the Economic Zone Authority.

H E Kalbani affirmed that the establishment of Tawasul Charitable Organisation is a qualitative step that enhances cooperation in between the nearby neighborhood in Duqm and the organizations operating in the zone, and expects this organisation to have optimistic final results for organizations and society in the close to future. H E Kalbani stated, “Tawasul Organisation is a pioneering idea by the companies operating in the zone and is a product of continuous efforts by companies to serve the community and revitalise the economic sector with precision and provide various services in the areas of community support, training and marketing of products.”

The establishment of the Charitable Organisation is component of the interest accorded by the Special Economic Zone Authority in Duqm (SEZAD) and the organizations operating in SEZD to market the notion and practices of social duty in SEZD.

H E Jabri expressed his thanks and appreciation to the organizations that component of ‘Tawasul’. He explained that the new organisation will contribute to growing awareness of social values and unifying the efforts of neighborhood help rather of person contributions.

The organizations elected Dr Rashid bin Ali al Balushi, board member of Tatweer, to be the chairman of the Board of Directors of the Fund. Nasehah bint Mohammed al Falahia, basic manager of Duqm Refinery Company was also elected as deputy chairman of the board.

The objectives of the foundation contain supplying charitable and public rewards as stipulated in the locations of function specified in its Articles of Association, paying interest to raising the regular of living of the households of social safety and low-earnings households in SEZD, spreading and establishing social duty notion amongst companies in the Al Wusta Governorate.

It also aims to raise the level of how companies in SEZD deal with social duty notion, market and help person initiatives in social duty to consolidate it in the nearby neighborhood by honouring leaders from various sectors, and urges companies to create its management method to attain international top quality requirements in the region of social duty. It will also help companies and motivate them to get international top quality certification in the field of social duty as nicely as help environmental initiatives and boost environmental awareness.

The Board of Directors comprises the executive heads of the founding organizations or their representatives.

The board appoints the CEO of the foundation to handle its affairs and is accountable to the Board of Directors. The Board of Directors appoints members of the Audit Committee at the very first meeting of the Foundation for two years. However, the Board of Directors is not obliged to accept any of the names proposed by the executive management of the foundation. The foundation’s Articles of Association stipulate the choice of the Board of Trustees from the members of the government representatives, which includes two Walis, two members of the Shura Council, 3 members of the society and the CEO of the Foundation. The executive management headed by the CEO shall handle all executive responsibilities of the foundation in accordance with the executive regulations and powers vested in the CEO by founding organizations.

Concerning the powers and responsibilities of the Board of Directors, the Articles of Association of the foundation clarified that the approval of the projects and any amendments implemented by the foundation according to the locations of function shall be by a majority of the Board of Directors. The Board of Directors shall adopt the internal policy of the foundation ready by the executive management.

Information Source: Muscat Daily

Check Also

Face masks out of stock in Muscat pharmacies

Pharmacies in 19 currently sweeping the world.