Dubai’s Awqaf and Minors Fund Management Foundation Reports 14% Growth in Endowment Assets in 2022

DUBAI, 16th April / WAM / The Awqaf and Minors Fund Management Foundation in Dubai announced the registration of endowment No. 839 and an increase in the value of endowment assets in 2022 by 14% compared to 2021.
The value of endowment assets exceeded 8.8 billion dirhams, which varied between charitable, offspring and joint endowments, and were distributed by 611 endowments provided by men, 149 endowments provided by women, and 79 endowments provided by entities and institutions, as women’s participation in endowment activity during the year 2022 recorded an increase of 50% compared to 2021.

The 839 endowments are divided between 764 real estate endowments and 75 financial endowments (financial assets and shares), as the endowments registered with the Foundation belong to 493 endowments, and the shareholders are divided between 355 endowments, 119 endowments, and 19 institutions, and distributed to the charitable endowment with a share of 702 endowments, and the atomic endowment by 93 Endowments, and the common endowment 44 endowments of the total endowments in Dubai.
Of the total endowments, 470 were allocated to mosque affairs, 183 to general charitable causes, 110 to endowment families, 18 to orphans, and 17 to the poor. The rest of the endowments were distributed over education, health, people of determination, water, social affairs, and Muslim affairs.
During the year 2022, the health sector in endowment banks witnessed an increase of 26% over the past two years, which culminated in the completion of two health endowments in the Emirate of Dubai that support the medical sector and disease and epidemiological research and enhance the institution’s health strategy that aims to preserve the health of community members and provide a proactive step for any potential health repercussions or crises.
His Excellency Issa Al Ghurair, Chairman of the Board of Directors of the Awqaf Foundation and the Management of Minors’ Funds, said that the new endowment strategy strengthens the endowment development plans in the emirate and establishes the culture of endowment work as a societal value and a humanitarian message.
Al Ghurair added that the new strategy supports the Foundation’s efforts to strengthen its position as a regional reference in the management of institutional endowment work. on the society.
For his part, His Excellency Ali Al-Mutawa, Secretary General of the Awqaf Foundation and the Management of Minors’ Funds, said that the development of the endowment work system in the Foundation reflects the vision of the wise leadership in activating the role of endowment to serve the goals of sustainable development in society, pointing out that the roots of the values ​​of giving in the Emirati society contributed to the advancement of endowment work and the achievement of Leadership in the fields of charitable work.
Al-Mutawa stressed that the remarkable increase in the value of endowment assets in Dubai reflects the confidence of the white-handed people in the ability of the Foundation to maintain and manage endowment investments in an optimal manner and in a manner that achieves the noble goals of the endowment in establishing goodness and enhancing the cohesion of society and the comfort of its members.