Dubai's Endowments and Minors’ Trust Foundation (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.
This marks a 13% increase from the previous year, when AED26.7 million was distributed, reflecting the foundation’s commitment to managing and growing minors’ funds.
The profits were shared among 2,263 minors and beneficiaries, a key element of AWQAF Dubai's mission to safeguard and invest funds for those under its care. The growth in profits underscores the foundation’s strategic investment approach, which includes real estate, commercial ventures, and financial stock portfolios, adhering to Sharia principles.
Ali Mohammed Al Mutawa, Secretary-General of AWQAF Dubai, highlighted the foundation’s dedication to maximizing financial returns while ensuring the security of minors' assets. He also noted the alignment with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai.
AWQAF Dubai's portfolio includes investments in key public joint-stock companies like Salik, DEWA, and other low-risk government entities. The foundation continues to explore new investment opportunities to further enhance returns and minimize expenses.
By the end of 2023, AWQAF Dubai managed assets valued at AED1.015 billion, which include bank deposits, real estate, and commodity portfolios. The foundation remains committed to ensuring that these investments deliver optimal returns for beneficiaries.
News Source: Emirates News Agency
