Grameen-Jameel is a non-profit organization jointly owned by Grameen Foundation and Abdul Latif Jameel Community Initiatives, a subsidiary of Abdul Latif Jameel. It is operated as a social business modeled after Professor Mohammed Yunus’ concept. As a social business, Grameen-Jameel does not distribute dividends to its founding shareholders, yet reinvests profits into the company to serve more poor people in the MENA Region. The company is incorporated in Cyprus and headquartered in Dubai International Humanitarian City.
Grameen Foundation helps the world’s poorest – especially women – improve their lives and escape poverty by providing them with access to appropriate financial services, such as microsavings and loans; real-time, life-changing information about health, agriculture and finances; and unique income-generating opportunities. It works directly with the poor, and partners with the organizations that support them, to make a real difference in the lives of those who have been left behind. Founded in 1997, Grameen Foundation has offices in Washington, DC; Seattle, WA; Colombia; Ghana; Hong Kong; Indonesia; Kenya; the Philippines; and Uganda. Microfinance pioneer Dr. Muhammad Yunus, founder of Grameen Bank and winner of the 2006 Nobel Peace Prize, is a founding member of its Board of Directors, and now serves as director emeritus.
For more information, please visit www.grameenfoundation.org.
Sheikh Abdul Latif Jameel, the late Saudi visionary and entrepreneur, founded Abdul Latif Jameel (ALJ) in 1945. ALJ is the sole distributor of Toyota vehicles in Saudi Arabia. ALJ expanded its services to include real estate, trading, consumer finance, and community initiatives across the Arab World. Community services programs are among the most important initiatives adopted by the Abdul Latif Jameel Group since the early efforts of Sheikh Abdul Latif Jameel, may Allah rest him in peace, who actively contributed to different social programs.
ALJCI is not a new entity. Instead, it started in the early days of Abdul Latif Jameel Company, by sponsoring several local events, supporting certain Government projects, launching cultural competitions and other diversified initiatives. By the end of 2002, the company introduced an initiative by creating job opportunities through launching the Taxi Ownership initiative. The first group of unemployed young males received 10 cars.
The initiative proved to be very successful. In the beginning of 2003, Abdul Latif Jameel Professional and Vocational Rehabilitation Initiative was announced, and the initiative began to offer interest-free loans to candidates who were interested in receiving training for certain professions. In the same year, the Saudi Red Crescent Society Development initiative was announced in the Makkah area. In mid 2003, Abdul Latif Jameel Community Initiatives (ALJCI) was formally started, and all initiatives implemented by ALJ Co. were housed under the new ALJCI umbrella. For more information, please visit www.aljci.org, www.alj.com.