Latest news with #AwqafDubai
Hi Dubai
2 days ago
- Business
- Hi Dubai
Awqaf Dubai Approves AED35.7 million in Direct Benefits for 2025, Marks 16% Increase
The Board of Directors of the Endowment and Minors' Trust Foundation in Dubai (Awqaf Dubai) has authorised AED35.7 million in direct financial benefits for 2025, marking a 16% increase over last year's allocation. The decision was made during the Board's tenth meeting of the year, chaired by Issa Al Ghurair, with the participation of Ali Al Mutawa, Secretary-General of Awqaf Dubai, and other senior members. The approved cash dividend represents a 3.5% return on investment, reflecting Awqaf Dubai's efforts to maximise sustainable yields while maintaining transparency and responsible governance. In addition to the dividend, AED14.3 million was allocated to the reserve fund to further reinforce financial stability. During the meeting, the Board reviewed the 2024 financial report, which revealed that the Minors' Trust Fund, valued at AED1.022 billion, generated AED64 million in revenue. After AED14 million in expenses, the resulting net surplus stood at AED50 million, forming the basis for this year's dividend distribution. The Board also assessed ongoing investment projects, most notably the Al Khawaneej Mall development, a flagship initiative aimed at enhancing endowment returns and contributing to Dubai's broader economic and social goals. The Board praised the project's progress and emphasised the importance of meeting its scheduled milestones. Issa Al Ghurair reaffirmed Awqaf Dubai's commitment to developing impactful endowment projects that support community needs, promote social cohesion, and align with Dubai Vision 2030. Secretary-General Ali Al Mutawa highlighted the Foundation's focus on expanding endowment assets and fund portfolios with the goal of long-term sustainability and benefit for minors. The meeting underscored Awqaf Dubai's dedication to effective financial stewardship and sustainable development, ensuring a lasting positive impact on the communities it serves. News Source: Emirates News Agency
Zawya
2 days ago
- Business
- Zawya
Awqaf Dubai Board authorises $9.7mln in direct benefits in 2025
The Board of Directors of the Endowment and Minors' Trust Foundation in Dubai (Awqaf Dubai) convened its tenth meeting of 2025, with Issa Al Ghurair, Chairman of the Board, presiding over the deliberations. Ali Al Mutawa, Secretary-General of Awqaf Dubai, and several other members of the Board were in attendance. The meeting evaluated various strategic initiatives and key projects undertaken by Awqaf Dubai, also reviewing the 2024 financial report detailing the performance of the various funds operated by the Minors' Trust. The Board also discussed Awqaf Dubai's management of its general portfolio, emphasising the optimisation of sustainable returns on investment while upholding the highest standards of transparency and accountability. The Board reviewed financial statements relating to investments made by the Minors' Trust until the close of 2024. Aggregating AED1.022 billion, the funds generated AED64 million in revenues against a total incurred expenditure of AED14 million, yielding a net distributable surplus of AED50 million. Following thorough deliberations, the Board approved a cash dividend of AED35.7 million for 2025, reflecting a 3.5 percent return on investment and a 16 percent increase over the previous year's allocation. Additionally, AED14.3 million was allocated to the reserve fund. The Board also assessed the progress achieved on significant investment initiatives, notably the Al Khawaneej Mall development, a flagship project designed to boost endowment returns while advancing Dubai's economic and social development objectives. The Board commended the headway made with respect to the project and underscored the importance of adhering to the time frames set out for its various phases. Issa Al Ghurair said that, guided by the emirate's visionary leadership, Awqaf Dubai continues to develop endowment projects that address community needs, foster social cohesion, and promote sustainable growth, reaffirming the commitment to aligning with Dubai's Vision 2030. He highlighted the significance of further enhancing Awqaf Dubai's investment mechanisms to ensure resource sustainability and strengthen its capacity to support those it serves. Ali Al Mutawa reaffirmed Awqaf Dubai's commitment to its time-tested strategy for expanding endowment assets and fund portfolios intended for the benefit of minors. This approach is designed to promote sustainable development and amplify positive societal impact. 'Our operations are guided by a clear vision anchored in the highest standards of governance and transparency. We remain steadfast in our pursuit of sustained financial and investment success for the benefit of minors, in alignment with the directives of our visionary leadership,' he stated. 'The decisions ratified during the meeting, particularly the authorisation for profit-sharing and maximising of returns, underscore Awqaf Dubai's commitment to its beneficiaries. These actions reflect our dedication to effectively managing and growing funds intended to support minors, thus safeguarding their rights while ensuring the long-term sustainability of resources,' he added.
Emirates 24/7
2 days ago
- Business
- Emirates 24/7
Awqaf Dubai Board authorises AED35.7 million in direct benefits in 2025, marking a 16% year-on-year increase
The Board of Directors of the Endowment and Minors' Trust Foundation in Dubai (Awqaf Dubai) convened its tenth meeting of 2025, with His Excellency Issa Al Ghurair, Chairman of the Board, presiding over the deliberations. His Excellency Ali Al Mutawa, Secretary-General of Awqaf Dubai, and several other members of the Board were in attendance. The meeting evaluated various strategic initiatives and key projects undertaken by Awqaf Dubai, also reviewing the 2024 financial report detailing the performance of the various funds operated by the Minors' Trust. The Board also discussed Awqaf Dubai's management of its general portfolio, emphasising the optimisation of sustainable returns on investment while upholding the highest standards of transparency and accountability. The Board reviewed financial statements relating to investments made by the Minors' Trust until the close of 2024. Aggregating AED1.022 billion, the funds generated AED64 million in revenues against a total incurred expenditure of AED14 million, yielding a net distributable surplus of AED50 million. Following thorough deliberations, the Board approved a cash dividend of AED35.7 million for 2025, reflecting a 3.5% return on investment and a 16% increase over the previous year's allocation. Additionally, AED14.3 million was allocated to the reserve fund. The Board also assessed the progress achieved on significant investment initiatives, notably the Al Khawaneej Mall development, a flagship project designed to boost endowment returns while advancing Dubai's economic and social development objectives. The Board commended the headway made with respect to the project and underscored the importance of adhering to the timeframes set out for its various phases. His Excellency Issa Al Ghurair said that, guided by the emirate's visionary leadership, Awqaf Dubai continues to develop endowment projects that address community needs, foster social cohesion, and promote sustainable growth, reaffirming the commitment to aligning with Dubai's Vision 2030. He highlighted the significance of further enhancing Awqaf Dubai's investment mechanisms to ensure resource sustainability and strengthen its capacity to support those it serves. Clear growth path His Excellency Ali Al Mutawa reaffirmed Awqaf Dubai's commitment to its time-tested strategy for expanding endowment assets and fund portfolios intended for the benefit of minors. This approach is designed to promote sustainable development and amplify positive societal impact. 'Our operations are guided by a clear vision anchored in the highest standards of governance and transparency. We remain steadfast in our pursuit of sustained financial and investment success for the benefit of minors, in alignment with the directives of our visionary leadership,' he stated. 'The decisions ratified during the meeting, particularly the authorisation for profit-sharing and maximising of returns, underscore Awqaf Dubai's commitment to its beneficiaries. These actions reflect our dedication to effectively managing and growing funds intended to support minors, thus safeguarding their rights while ensuring the long-term sustainability of resources,' he added.
Zawya
11-06-2025
- Business
- Zawya
Awqaf Dubai awards the ‘Dubai Endowment Sign' to DEWA
Dubai, UAE: The Awqaf and Minors Affairs Foundation (Awqaf Dubai), represented by the Mohammed bin Rashid Global Centre for Endowment Consultancy, has awarded the 'Dubai Endowment Sign' to Dubai Electricity and Water Authority (DEWA), in recognition of its contribution to supporting the Sukuk Al Waqf initiative, the first charitable endowment of its kind in the region. HE Issa Al Ghurair, Chairman of the Board of Directors of Awqaf Dubai, presented the 'Dubai Endowment Sign' to HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, in the presence of HE Ali Al Mutawa, Secretary General of Awqaf Dubai, Zainab Juma Al Tamimi, Director of the Mohammed bin Rashid Global Centre for Endowment Consultancy, and a number of officials from both sides. Representing DEWA at the meeting were Waleed bin Salman, Executive Vice President of Business Development and Excellence, Dr Yousef Al Akraf, Executive Vice President of Business Support and Human Resources, and Marwan Bin Haidar, Executive Vice President of Innovation and the Future. Al Tayer expressed his delight at DEWA receiving the Dubai Endowment Sign. 'At DEWA, we are committed to our social responsibility and our national role in supporting charitable and development initiatives that contribute to achieving the vision of the wise leadership in consolidating the concepts of giving and sustainability. Our support for the Sukuk Al Waqf initiative reflects our corporate social responsibility and our strategy to strengthen community partnerships and enhance the positive impact of our work in a way that serves society and supports the innovative Waqf system,' said Al Tayer. Al Ghurair emphasised that DEWA was one of the first entities to contribute to the Sukuk Al Waqf initiative, which was launched in 2022, with a contribution of AED 5 million distributed over three years. He commended DEWA's noble contribution, which supported the humanitarian goals of the initiative. Al Ghurair added that awarding DEWA the Dubai Endowment Sign recognises its role in enhancing social responsibility and fostering a culture of innovative endowment, in line with DEWA's strategy to support Dubai's social and economic agenda. The Sukuk Al Waqf initiative is the first charitable endowment of its kind in the region available to individuals and companies. It reflects the global vision for endowment launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to revive the endowment as a developmental tool for communities. Through an innovative, unique and flexible model, the initiative enables all segments of society to be active contributors to efforts to promote philanthropy and to take part in a continuous cycle of giving.
Hi Dubai
11-06-2025
- Business
- Hi Dubai
DEWA Receives Dubai Endowment Sign for Supporting Sukuk Al Waqf Initiative
Dubai Electricity and Water Authority (DEWA) has been awarded the prestigious Dubai Endowment Sign by Awqaf Dubai in recognition of its AED 5 million contribution to the Sukuk Al Waqf initiative — the region's first charitable endowment of its kind. The award, presented by the Endowment and Minors' Trust Foundation (Awqaf Dubai) through the Mohammed bin Rashid Global Centre for Endowment Consultancy, highlights DEWA's role in promoting social responsibility and supporting innovative charitable models. The Sukuk Al Waqf initiative, launched in 2022, enables individuals and companies to participate in sustainable philanthropic efforts. HE Issa Al Ghurair, Chairman of Awqaf Dubai's Board, handed over the recognition to HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, during a formal ceremony attended by senior officials from both entities. Al Ghurair praised DEWA as one of the first contributors to the initiative, applauding its commitment to humanitarian values and its support for Dubai's wider social and economic development goals. Al Tayer reaffirmed DEWA's commitment to national development efforts, noting that the authority's support for the Sukuk Al Waqf initiative reflects its dedication to sustainability and corporate social responsibility. The Sukuk Al Waqf initiative aligns with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, who seeks to revive endowment practices as tools for long-term community development. The initiative's flexible, inclusive framework encourages public and private sector engagement in building a culture of giving across the UAE. By recognising DEWA with the Dubai Endowment Sign, Awqaf Dubai underscores the vital role of institutions in driving meaningful change and fostering a more inclusive philanthropic ecosystem. News Source: Dubai Media Office
