The Pearl Initiative, a leading Gulf-based nonprofit, alongside Philanthropy Age recently brought together dozens of Gulf-based philanthropists and High Net Worth Individuals to explore effective strategic giving.
The gathering was part of the Circle, an endeavour to establish a community of philanthropic donors to spearhead a drive for greater transparency, accountability, and trust in giving across the Gulf region, which launched in May 2020.
Praising the enthusiasm and commitment to giving present among those gathered, Huda I. Alkhamis-Kanoo, Founder of the Abu Dhabi Music & Arts Foundation and Founder & Artistic Director of Abu Dhabi Festival, said, ‘It was a pleasure to attend the enlightening workshops hosted by the Pearl Initiative. I was impressed by the discussion and the sharing of knowledge and experiences reflected by the other participants, as it affirms our shared belief that philanthropy is essential for impactful social, economic, and cultural progress.’
While there is a strong culture of giving in the Arab region, donors are increasingly concerned about how much of an impact their giving is making. According to the Arab Giving Survey, three-quarters of donors now require transparency on impact and evidence of how effective a nonprofit is in achieving its goal. And more than 70 per cent say they would increase their giving if they had a better understanding of how their funds were used.