Sharjah Asset Management distributes financial rewards to Emirati fishermen in Sharjah

Publish May 2, 2021
finance & economy

The management of Souq Al Jubail, a project by Sharjah Asset Management, has announced that it will be distributing financial rewards to licensed Emirati fishermen in Sharjah during the holy month of Ramadan. The move is in recognition of their role in meeting the needs of consumers and enables them to preserve their profession for future generations. The bonuses will be distributed to fishermen who meet the criteria set by the Souq Al Jubail administration.

The rewards are in line with the approach of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Court, Ruler of Sharjah, in providing support to fishermen in the emirate and harnessing all capabilities to facilitate them and their roles.

His Excellency Waleed Al Sayegh, CEO of Sharjah Asset Management, said “This reward is an affirmation of Sharjah Asset Management’s (SAM) commitment to supporting fishermen in the emirate and takes into account the exceptional circumstances that fishermen have gone through with the repercussions of the emerging COVID-19 pandemic. The financial rewards amount is even bigger than last year’s, as a token of gratitude to the hard work that fishermen have carried out surrounding the challenging circumstances.”

His Excellency continued, “The rewards were determined by two criteria: the first being the sales of fish that are brought by the market or through auctions, and the second being the quantity supplied by the fishermen and traded in the market auction. The reward scheme has been implemented with the cooperation of the Sharjah Fishing Co-operative Society and comes as a way to motivate fishermen to remain working in their industry.”

Sharjah Asset Management’s support is to encourage fishermen to continue in their profession and to also motivate young citizens to enter the industry. Fishing is one of the most important sectors in the country, and must be preserved so that marine food can be provided to residents and citizens. In addition to enhancing the utilization of fish wealth, fishing holds a heritage importance and is a profession that must be supported and passed down from generation to generation as it serves all segments of society.

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