Ittihad University Receives $25,000 Grant from Citigroup Foundation

Grant Benefits 10 Students at Ittihad University in Scientific Programs

July 11, 2006, Ras Al-Khaimah-Ittihad University (IU) announced today that it has received a $25,000 grant from Citigroup Foundation towards IU’s financial aid program. The grant will be used to provide scholarships to10 students with financial need who are pursuing Bachelor of Science Degrees in different scientific programs.

Professor Nizar Al-Ani, Chancellor of IU, said ”We applaud Citigroup’s willingness to help the community in Ras Al Khaima through financing the education of students whose only restriction to obtaining qualifications is financial. This donation will enhance the offerings that IU’s financial aid program presents to our students and will give them the opportunity to obtain a quality education with international standards, and will move many UAE nationals to realizing their Post Academic work plans.”

Mohammed Al-Shroogi, Citigroup’s Managing Director for the Middle East, based in the UAE, said “Our support for the IU scholarship program underscores Citigroup’s commitment to supporting financial education in the UAE in order to help achieve the national goal of educating local professionals, mainly in business disciplines. We are proud to be associated with IU and look forward to partnering with the university in other strategic initiatives.”

The IU grant falls within Citigroup Foundation’s efforts to provide higher education opportunities to disadvantaged students across the region. In this regard, Citigroup works closely with top educational institutions such as Ittihad University, Dubai University College, Abu Dhabi University, Lebanese American University, American University of Beirut, University Of Bahrain and Princess Sumaya University for Technology in Jordan.

Recently, Citigroup and the Citigroup Foundation announced a 10-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 300,000 employees around the world to devote time to support financial education and other charitable causes. Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.


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Citigroup
Citigroup, the leading global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.

Citigroup Foundation
The Citigroup Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information can be found at www.citigroup.com/citigroup/corporate/foundation/index.htm.

Citigroup Financial Education Program
Based on the belief that knowledge is your greatest asset, the Citigroup Financial Education Program is a global, company-wide effort working jointly with the Citigroup Foundation to identify, support and implement initiatives that help give individuals, families and institutions the tools needed to make sound financial decisions. Citigroup’s 10-year, $200 million global commitment is focused in three areas: Personal Financial Education, Small Business Financial Education, and Institutional Financial Education. Additional information about Citigroup’s Financial Education Program, including Foundation guidelines, links and resources, the Citigroup Financial Education Program Curriculum and Facilitator’s Guide, may be found at: www.financialeducation.citigroup.com.

Ittihad University
Ittihad University is an academic institution concerned with higher education and research in the various fields of social and scientific sciences. It was founded in 1999 under directive of His Highness Sheikh Saqr Bin Mohamed Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah.

The university has a distinguished philosophy in higher education, which is deeply rooted in the Islamic and Arabian culture and which keeps up with the most modern policies embraced by European and American Universities.

The university applies the credit hour system, which is made to suit the requirements and values of our Arabian and Islamic environment. This system also suits the needs of the job market in the UAE in particular and the Arabian region in general.

The university makes training a major component of the educational program since it is keen to foster in its students the skills and competencies demanded by the job market and development policies.

The university has established links with a number of prestigious Arab, European and American universities. Additional information may be found at www.ittihad.ac.ae

Contact Information

Citigroup Public Affairs

Citigroup Inc.

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