Page 71 - SALIK PR REPORT OCTOBER 2024

10/21/24, 11:36 AM AWQAF Dubai shares with minor beneficiaries AED30.4 million in profits from investments made on their behalf | Emirates News …

Latest News GCC Middle East World Tolerance COP28 Global Media Congress

AWQAF Dubai shares with minor beneficiaries AED30.4 million in profits from investments made on their behalf
Sunday, October 20, 2024 4:23 PM2 minutes Reading

A+

DUBAI, 20th October, 2024 (WAM) -- The Endowments and Minors’ Trust Foundation in Dubai (AWQAF Dubai) has announced the distribution of AED30.4 million in profits fr
investments made on behalf of minors and those under guardianship for the year 2024. The gesture aligns with AWQAF Dubai’s core mission of managing and investing fund
for minors.
The profits were distributed among 2,263 minors and other beneficiaries in similar situations, reflecting an increase of 13 percent in disbursements compared to the previous
adding up to AED3.4 million. In 2023, the total profits distributed among minor beneficiaries amounted to approximately AED26.7 million.
Ali Mohammed Al Mutawa, Secretary-General of AWQAF Dubai, emphasised the Foundation’s unwavering commitment to its mission of safeguarding, managing, and investi
earmarked for minors in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister 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 estat
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 ex
unnecessary risks. AWQAF Dubai strategically invests in a range of public joint-stock companies, including Parkin, Salik, DEWA, and other low-risk government entities.
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 m
initiatives aim to maximise financial returns, reduce expenses, and ensure that minors’ funds are optimally managed. AWQAF Dubai remains committed to ensuring that inves
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 en
These assets include bank deposits, real estate portfolios, commodity portfolios, and real estate investments.

AS

https://www.wam.ae/en/article/b5s171w-awqaf-dubai-shares-with-minor-beneficiaries-aed304 1/2