Amãna Bank Orphancare completes 4 quarters of fund distribution
Amãna Bank’s internationally awarded Orphancare programme successfully completed another quarterly fund distribution to over 2,700 deserving recipients in July 2020, thereby completing four cycles of fund distributions since launching the venture in 2019.
Orphancare, the bank’s flagship CSR venture, was established as an independent trust with the aim of addressing a very important yet mostly unattended need of orphan children, which is to secure the fate of orphans once they reach the age of 18 and are compelled to leave institutional care.
Termed by UNICEF as ‘The Second Abandonment’, this growing concern is the challenge faced by orphans, who initially were abandoned in childhood and who are now forced to transit or ‘age out’ of institutional care. The bank’s approach seeks to intervene in a vital and decisive aspect of their problem, which is funding. To that end, the Orphancare Trust has been making periodic deposits into orphans’ accounts until they reach the age of 18, at which point the funds will become accessible to them.
A unique highlight of the initiative is that the bank ensures that every rupee donated would reach the beneficiary since all administrative and operational costs are borne fully by the bank.
Sharing his views on the fund distribution, Orphancare Head Azad
Zaheed said, “We are indeed pleased to have been able to facilitate the fourth consecutive disbursement of funds to the designated accounts of the beneficiaries despite the challenging times in the backdrop of the COVID-19 pandemic. I am indeed humbled to have been able to be a part of this great cause while I express my gratitude to all the trustees and donors for their support.”
With over 14,000 registered orphans in the country, Orphancare has to date enrolled over 2,700 orphans to the programme, representing 79 orphanages with the objective of reaching out to all orphans in the country. In enrolling orphans to the programme Amãna Bank Orphancare has honoured Article 2 of the United Nations Convention on the Rights of the Child, where all enrolments are irrespective of the child’s or their parent’s or legal guardian’s race, colour, sex, language, religion, political or other opinions, national, ethnic or social origin, property, disability, birth or any other status.
The Orphancare Trust is administered by a team of trustees who have a track record of passionate social service, which include Chairman of the Trust Ruzly Hussain (founder of the Roteract movement in Sri Lanka), Osman Kassim (Founder Chairman Amãna Bank) K.R. Ravindran (Chairman, Board of Trustees of Rotary Foundation USA and former President Rotary International), Rohan Tudawe – Treasurer (Chairman Tudawe Brothers), Sharad Amalean (Co-founder MAS Holdings), Tyeab Akbarally (Senior Director Akbar Brothers), Harsha Amarasekera (President’s Counsel), Jazri Magdon Ismail (Past President AAT) and Mohamed Azmeer (CEO Amãna Bank).
The trustees have instituted a strong governance framework to maintain the highest standards of integrity and ensure the long-term sustainability of the trust.
Zaheed further opined, “I invite all those who want to enlighten an orphan’s future to join this cause. Interested individuals can access the detailed prospectus on Orphancare and other material by visiting www. amanabank.lk/orphan-care. We also invite the public to watch the Orphancare story ‘From Chance to Choice’ on www.bit.ly/orphancare-video.”