Awqaf Dubai has registered the first family endowment for a business group in the emirate, marking a significant shift in how family-owned companies can secure long-term continuity through the Islamic Waqf framework.
His Excellency Prof. Abdulsalam AlMadani, Chairman of INDEX Holding, registered the INDEX Holding group — spanning UAE and overseas operations — as Dubai's inaugural family business endowment (Waqf Dhurri). The registration also covers the Abdulsalam AlMadani Global Education Center and its associated intellectual and industrial property rights, alongside the Abdulsalam AlMadani Humanitarian Care and Charity Foundation, designated as a charitable endowment.
Under the terms of the deed, AlMadani will manage the endowment during his lifetime, after which succession and governance will follow the family endowment system's established regulations — covering supervisor appointments, distribution of returns and long-term sustainability.
The endowment operates under the oversight of Awqaf Dubai in accordance with Law No. (17) of 2022, ensuring regulatory compliance and institutional governance.
Ali Al Mutawa, Secretary-General of Awqaf Dubai, described the registration as a milestone in the emirate's institutional endowment system, noting that family endowments help preserve businesses across generations while supporting national economic stability.
AlMadani said the initiative redefines the role of family businesses in the national economy, framing the endowment as a structured system that protects company values while positioning them for long-term growth.
The development comes as family endowments gain significant traction across Dubai. Total registered family endowment values reached approximately AED 4.8 billion by end of 2025, distributed across 251 endowments — reflecting growing confidence in the model as a tool for sustainable wealth succession and asset protection.
News Source: Dubai Media Office
