AWQAF Dubai Distributes AED 30.4 Million in Investment Profits to Beneficiaries

Photo : Dubai government media office

The Endowments and Minors’ Trust Foundation in Dubai, known as AWQAF Dubai, has announced a significant distribution of AED 30.4 million in profits from its investments for the year 2024. This distribution is aimed at minors and those under guardianship, aligning with AWQAF Dubai’s mission to manage and invest funds designated for these vulnerable groups.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel

This year's profit distribution benefits a total of 2,263 minors and other similar beneficiaries, marking a notable increase of 13% compared to the previous year, which saw disbursements amounting to approximately AED 26.7 million. The increase of AED 3.4 million underscores the foundation's continued commitment to enhancing the financial well-being of these beneficiaries.

His Excellency Ali Mohammed Al Mutawa, the Secretary-General of AWQAF Dubai, emphasized the organization’s dedication to safeguarding and managing funds for minors. This commitment aligns with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Al Mutawa reiterated that AWQAF Dubai has consistently achieved robust annual growth in returns, leveraging diverse investments, including real estate assets, commercial ventures, and financial stock portfolios.

In his remarks, Al Mutawa highlighted that the growth in profits reflects AWQAF Dubai’s strategic approach to protecting minors’ funds while adhering to Sharia principles. This ensures that the capital is shielded from unnecessary risks. The foundation strategically invests in a mix of public joint-stock companies, including notable entities such as Parkin, Salik, and Dubai Electricity and Water Authority (DEWA), focusing on low-risk government entities.

Looking ahead, Al Mutawa expressed the foundation's ambition to expand its investment portfolio further and explore new opportunities to manage and develop projects for minors. The aim is to maximize financial returns, minimize expenses, and guarantee optimal management of minors’ funds. AWQAF Dubai remains dedicated to ensuring that investment returns are effectively delivered to beneficiaries, collaborating closely with relevant authorities to achieve this goal.

As of the end of 2023, the total value of assets managed by AWQAF Dubai for minors and guardianship cases reached AED 1.015 billion. This impressive asset pool encompasses a variety of financial instruments, including bank deposits, real estate portfolios, commodity portfolios, and various real estate investments, solidifying AWQAF Dubai's role as a key player in the financial protection of minors in the region.

Oct. 21, 2024 4:36 p.m. 469

#trending #latest #AWQAFDubai #MinorsTrust #InvestmentReturns #DubaiFinance #FinancialGrowth #ShariaCompliant #CommunitySupport #UAE #ChildWelfare #AssetManagement #EconomicDevelopment #DubaiInvestment #SocialResponsibility #WealthManagement #FutureGenerations #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai