In a significant financial boost, Dubai has distributed Dh30.4 million in profits to 2,263 minors and those under guardianship, marking a 13% increase from the previous fiscal year.
The distribution, managed by the Awqaf and Minors Funds Management Foundation (AMAF), highlights the growing success of Dubai’s commitment to safeguarding and investing the assets of minors. This financial milestone reflects Dubai’s ongoing efforts to ensure financial security for future generations.
Compared to the Dh26.7 million allocated in 2023, the increase in profits showcases the Foundation’s effective management strategy, which includes diverse investments in real estate, commercial ventures, and public companies like Dubai Electricity and Water Authority (DEWA) and Salik. This responsible investment approach, aligned with Sharia principles, ensures the capital is protected while delivering consistent returns to UAE minor beneficiaries.
Ali Mohammed Al Mutawa, Secretary-General of AMAF, reaffirmed the organization’s dedication to Sheikh Mohammed bin Rashid Al Maktoum’s directives. He emphasized that the Foundation’s prudent investment strategies have led to significant growth in minors’ funds without exposing them to undue risk. The financial results by the end of 2023 stood at Dh1.015 billion, encompassing bank deposits, real estate portfolios, and other lucrative investments.
The AMAF’s vision extends beyond merely preserving minors’ funds. Al Mutawa shared the Foundation’s plans to further diversify its investment portfolio and introduce new initiatives to boost financial returns for minor beneficiaries. These efforts contribute to Dubai’s larger goal of enhancing social welfare and ensuring optimal care for its youngest citizens.
