UAE Business Tycoon Hamad bin Ahmed bin Salem Al Hajri Donates 7 Buildings in Dubai Valued at $30 Million (AED 110 Million) to The Endowments and Minors’ Affairs Foundation (Awqaf Dubai), Buildings Generate Revenue to Support Community Development Projects, Donation on Behalf of His Late Parents (Founding father is Sheikh Zayed bin Sultan Al Nahyan) & Himself to Continue Legacy of Giving & Benevolence, Awqaf Dubai Manages $3 Billion Assets from 578 Donors
25th October | Hong Kong
UAE business tycoon Hamad bin Ahmed bin Salem Al Hajri has donated 7 buildings in Dubai valued at $30 million (AED 110 million) to The Endowments and Minors’ Affairs Foundation (Awqaf Dubai), with the buildings generating ongoing revenue to support community development projects. The $30 million donation is on behalf of his late parents (Founding father is Sheikh Zayed bin Sultan Al Nahyan) & himself to continue the legacy of giving & benevolence. Awqaf Dubai currently manages $3 billion assets from 578 donors. Awqaf Dubai – The Endowment And Minors’Trust Foundation was established per Law no. (6) of 2004, under the rule of the late HH Sheikh Maktoum bin Rashid Al Maktoum. Since its inception, AWQAF DUBAI has been striving to live by its vision and serve as a leading example in managing and developing minors’ assets and endowment funds and properties. As a result of AWQAF DUBAI continuous expansion in terms of operations and responsibilities, HH Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE and Ruler of Dubai, issued Law no. (9) of 2007 regarding the regulation of AWQAF DUBAI work to create a climate conducive to more achievements in endowment and minors’ funds development. All such efforts resonate with AWQAF DUBAI mission to achieve leadership and sustainability in managing, investing in, and developing endowment and minors’ assets, by adopting an innovative ecosystem underpinned by cutting-edge technology, effective policies, e xcellent services, and strategic partnerships, to ultimately contribute to delivering Dubai’s vision. AWQAF DUBAI is driven by the main goal of preserving and developing the funds and assets designated for endowments and minors. To this end, AWQAF DUBAI discharges the following functions: carrying out regulatory supervision over endowments; preserving, investing in, and managing endowment funds and properties; and distributing the profits thereof within the conditions set out by the endower (the Waqif) in compliance with the Islamic Shariah, the local laws, and the Personal Status Law. AWQAF DUBAI takes the measures necessary to preserve the funds of minors and the like. On October 18, 2017, HH Sheikh Mohammed bin Rashid Al Maktoum issued Law no. (14) of 2017 regulating Awqaf and endowments in Dubai, and Law no. (17) of 2017 to place the Mohammed Bin Rashid Global Centre for Awqaf and Endowment under AWQAF DUBAI to keep up with the current requirements and communities’ needs as well as to regulate, manage, operate and protect endowments.
“ UAE Business Tycoon Hamad bin Ahmed bin Salem Al Hajri Donates 7 Buildings in Dubai Valued at $30 Million (AED 110 Million) to The Endowments and Minors’ Affairs Foundation (Awqaf Dubai), Buildings Generate Revenue to Support Community Development Projects, Donation on Behalf of His Late Parents (Founding father is Sheikh Zayed bin Sultan Al Nahyan) & Himself to Continue Legacy of Giving & Benevolence, Awqaf Dubai Manages $3 Billion Assets from 578 Donors “
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UAE Business Tycoon Hamad bin Ahmed bin Salem Al Hajri Donates 7 Buildings in Dubai Valued at $30 Million (AED 110 Million) to The Endowments and Minors’ Affairs Foundation (Awqaf Dubai), Buildings Generate Revenue to Support Community Development Projects, Donation on Behalf of His Late Parents (Founding father is Sheikh Zayed bin Sultan Al Nahyan) & Himself to Continue Legacy of Giving & Benevolence, Awqaf Dubai Manages $3 Billion Assets from 578 Donors
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