A family of Microsoft relational database management systems designed for ease of use.
You should be talking with your IT department about this first. There may be policies and procedures for setting up folders. users should not just take it on themselves to do it.
It sounds like your IT dept has set group policies that prevent users from setting permissions. This is not uncommon. it also matters where you create the folder. You may need to create it under a specific network share or as a subfolder, that you may have rights for setting permissions.
Another point is you generally do NOT want to grant rights to individual users. Instead you want IT to create a Group and grant rights to the group, then control access by adding or removing people from the group.