On 27 DECEMBER 1761, an education foundation was established by "ŞERÂİBZÂDE EL-HAC OSMAN EFENDİ Bin EL-HAC AHMED AĞA" in Nicosia Arabahmet District.

The foundation was established by taking into account even the smallest need in a school, with the wealth of heart of charity and Ottoman civilization, and the foundation was prepared with the same courtesy.

With this foundation, which has been thought up to the wick of the oil lamp burning with olive oil, we see both the importance our ancestors gave to education and the sensitivity in charity works.

In the Arabahmet District of Nicosia, a 7-room building adjacent to the Arabahmet Mosque, along with many immovable properties such as shops, fields and farms, were donated for both the school and the students.

The 7-room structure was instrumental in the establishment of the Hamidiye Madrasa. Other immovables, on the other hand, have been evaluated in line with the educational activities of this madrasah, the needs of the students and the continuity of the whole system, and have enabled a charity bridge that extends to the present day.

The foundation specifications include the following:

"From the income of the donated goods, 6 money every day to the school teacher, 1 money every day to one student from 7 classes at the school, 1 money every day for the lighting works of the school (the oil lamp wick burning with olive oil), 1 daily to the servant of the foundation who monitors the income and expenditure of the shop, etc. money, the imam of the ArabAhmed Mosque should be given 1 coin per day."