Mohammed bin Rashid issues Law on Endowments and Minors’ Trust Foundation

In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No. (17) of 2022 on Dubai’s Endowments and Minors’ Trust Foundation.

His Highness also issued Law No. (18) of 2022 affiliating the Mohammed Bin Rashid Global Centre for Awqaf and Endowment to the Foundation.

Law No. (17) of 2022 applies to the Awqaf and Minors Affairs Foundation, which was created pursuant to Law No. (9) of 2007. The name of the foundation will be changed from Awqaf and Minors Affairs Foundation to Endowments and Minors’ Trust Foundation.

Designed to support the UAE’s vision for social development and welfare, Law No. (17) of 2022 specifies the mandate, functions, responsibilities and organisational structure of the Foundation. The Law also outlines the duties and responsibilities of the Foundation regarding the management of Shariah-compliant endowments (Waqf) and donations, with the exception of those generated by mosques; and the powers granted to the Foundation to invest endowment funds in Shariah-complaint investments. Law No. (17) of 2022 also defines the Foundation’s functions related to the management of minors’ funds.

According to Law No. (17) of 2022, a special Register of Wills created by the Foundation will list wills issued pursuant to a court decision or ruling. Under the new Law, endowments are exempted from fees, taxes and litigation fees.

Law No. (17) of 2022 replaces Law No. (9) of 2007 pertaining to the formation of the Awqaf and Minors Affairs Foundation. The new Law also annuls any legislation that may contradict it. Regulations and decisions issued to implement Law No. (9) of 2007 will continue to be in place, as long as they do not conflict with the provisions of the newly issued Law, until regulations and decisions replacing them are issued.

His Highness Sheikh Mohammed bin Rashid also issued Law No. (18) of 2022 pursuant to which the Mohammed Bin Rashid Global Centre for Awqaf and Endowment will be affiliated to the Endowments and Minors’ Trust Foundation. Law No. (18) of 2022 annuls Law No. (17) of 2017 pertaining to the formation of the Centre, and Law No. (11) of 2018 pertaining to the affiliation of the Center to the Awqaf and Minors Affairs Foundation.

Regulations and decisions issued to implement Law No. (14) of 2017 pertaining to the regulation of endowments and donations in Dubai, and Law No. (17) of 2017 will continue to be effective, provided they do not conflict with the provisions of Law No. (18) of 2022, until regulations and decisions replacing them are issued.

Law No. (17) and Law No. (18) of 2022 are effective from the date of their publication in the Official Gazette.

News Source: Dubai Media Office