Page 70 - SALIK PR REPORT OCTOBER 2024

His Excellency Ali Mohammed Al Mutawa, Secretary-General of AWQAF Dubai,
emphasised the Foundation’s unwavering commitment to its mission of
safeguarding, managing, and investing funds earmarked for minors in line 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 highlighted that AWQAF Dubai has consistently achieved significant
annual growth in returns on investments envisaged to benefit minors, which
include real estate assets, commercial ventures, and financial stock portfolios.

He further noted that the profit growth reflects AWQAF Dubai’s dedicated efforts
to protect minors’ funds while adhering to Sharia principles, ensuring that the
capital is not exposed to unnecessary risks. AWQAF Dubai strategically invests in
a range of public joint-stock companies, including Parkin, Salik, DEWA, and other
low-risk government entities.

Portfolio expansion push
Al Mutawa added that AWQAF Dubai is keen to expand its investment portfolio
and explore new opportunities in relation to managing and developing projects
intended for minors. Such initiatives aim to maximise financial returns, reduce
expenses, and ensure that minors’ funds are optimally managed. AWQAF Dubai
remains committed to ensuring that investment returns are effectively delivered to
beneficiaries in collaboration with relevant authorities, he added.

According to the financial reports, the total value of assets managed by AWQAF
Dubai on behalf of minors and those under guardianship reached AED1.015 billion
by the end of 2023. These assets include bank deposits, real estate portfolios,
commodity portfolios, and real estate investments.

https://mediaoffice.ae/en/news/2024/october/20-10/awqaf-dubai-shares-with-minor-
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0in%20Dubai,of%20managing%20and%20investing%20funds%20allocated%20for%20minors.