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19 May 2024

Etisalat UAE commits Dh45m for local community development in 2017

By Wam

Etisalat committed AED45 million for local community development in 2017, according to the company's Corporate Governance Report issued today.

Etisalat is committed to achieving a corporate governance framework that is appropriate to Etisalat's status as an internationally diverse group and one of the largest publicly traded enterprises in the United Arab Emirates, said the report.

The issuance of the report translates the Group's adherence to the Standards of Institutional Discipline and Governance of Public Shareholding Companies, issued by the Securities and Commodities Authority which apply to all firms listed on the country's capital markets, barring banks which are subject to the discretion and the applicable laws and regulations of the Central Bank.

A detailed breakdown of the Etisalat's financial contributions shows that AED22 million was earmarked for social development, AED15 million for sports, AED2.7 million for culture and environment, and AED5.2 million for innovation and health.