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10/21/24, 11:38 AM Awqaf Dubai announces AED30.4 million profit share - TAG91.1 - PINOY TALAGA!

AWQAF DUBAI ANNOUNCES AED30.4

MILLION PROFIT SHARE

News Home More from Business Sunday, 20 October 2024 16:28

By ARN News Staff

WAM
The Endowments and Minors’ Trust Foundation in Dubai (AWQAF Dubai) has announced the distribution of
AED30.4 million in profits from investments made on behalf of minors and those under guardianship for the

year 2024.

The profits were distributed among 2,263 minors and other beneficiaries in similar situations, reflecting an increase of
13 per cent in disbursements compared to the previous year, 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, 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.

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