MasterCard launched the first session of the Private Sector Frontiers Round Table Series. The series, which will consist of 11 sessions in total, aims to strengthen the role of the private sector in terms of humanitarian assistance as well as build sustainable partnerships with the sector across the UAE.
The first session, which was held on the first day of the UAE Innovation Week, was attended by CEOs of global champions in private finance, banking and technology as well as high-ranking observers from the United Nations.
At the end of the session, the IHC and MasterCard announced a new partnership and pilot initiative that aims to utilize modern communication and payment technologies to enhance humanitarian relief funding and efforts. Together, they launched a smart donation mobile application that will provide a platform for MasterCard cardholders to donate an amount to aid humanitarian efforts. By simply downloading the app, donations will be directed to the Global Humanitarian Impact Fund (GHIF) with every transaction made locally by the private sector. Furthermore, MasterCard announced the contribution of AED one million, making it the first private company to fund the GHIF since it was launched earlier this year.
Through this innovative mobile application, MasterCard cardholders in the UAE are eligible to register and donate to the Fund, and will be empowered to set donation limits, and gain a unique view into the impact of the fund’s contributions to humanitarian efforts around the world run by the IHC’s humanitarian members including UN agencies and international nonprofit organizations.
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