AWQAF Dubai has disbursed Sh30.4 million in profit from Minors and Endowments and Minors’ Trust Foundation investment for the year 2024. This has gone of a record high by a 13% increment or AED3.4 million in the number of disbursements it made in the previous year at AED26.7 million. A total of 2,263 beneficiaries have benefited from these funds supporting the mandate of AWQAF Dubai in managing and investing on cash in the name of minors.
AWQAF Dubai Secretary-General, His Eminence, Ali Mohammed Al Mutawa’ confirmed to the foundation’s commitment to the Dave, the protection and preservation of the minors’ assets following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum. Real estates, commercial activities, and stake in financial stocks are part of AWQAF Dubai balance sheet in which risks are minimised and returns earned inline with Shariah rules.
AWQAF Dubai has the continual growth each year in the investment returns and investing mostly in some hybla public joint stock like Parkin company, Salik company and DEWA etc. Al Mutawa added that the Foundation is still busy working on diversification of products, seeking new investment areas, and protection and proper management of minor’s money.
Total AWQAF Dubai for Minor for the total value in end of the year 2023 was 1,015 million AED. They comprised bank balances, real estates, and other investments through which the fund distributes the profits to its beneficiaries after having liaising with the relevant authorities. AWQAF Dubai still has its responsibility to maintain and increase such investment for the welfare of the minors and those under their guard.
