AWQAF Dubai Distributes AED 30.4 Million to Minors in 2024
The Endowments and Minors’ Trust Foundation in Dubai, known as AWQAF Dubai, has announced the distribution of AED 30.4 million in profits for the year 2024. These profits come from investments made on behalf of minors and those under guardianship.
Increased Disbursements
This year’s distribution reflects a 13% increase compared to the previous year, with an additional AED 3.4 million being allocated. In 2023, the total profits distributed were approximately AED 26.7 million.
Commitment to Minors’ Welfare
Ali Mohammed Al Mutawa, Secretary-General of AWQAF Dubai, emphasized the foundation’s dedication to managing and investing funds for minors. This aligns with the directives of Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
Investment Strategy
AWQAF Dubai invests in real estate, commercial ventures, and financial stock portfolios, ensuring adherence to Sharia principles. The foundation focuses on low-risk investments in public joint-stock companies like Parkin, Salik, and DEWA.
Future Plans
AWQAF Dubai plans to expand its investment portfolio to maximize returns and reduce expenses. The foundation manages assets valued at AED 1.015 billion, including bank deposits and real estate investments.
Doubts Revealed
AWQAF Dubai -: AWQAF Dubai is an organization in Dubai that manages and invests money for people who are not old enough to do it themselves, like children. They make sure the money is safe and grows over time.
AED -: AED stands for United Arab Emirates Dirham, which is the money used in the United Arab Emirates, including Dubai. It’s like how we use Rupees in India.
Minors -: Minors are people who are not yet adults, usually under the age of 18. They need someone to help manage their money because they are too young to do it themselves.
Guardianship -: Guardianship is when an adult is responsible for taking care of a minor and their money. This adult makes important decisions for the minor until they are old enough to do it themselves.
Ali Mohammed Al Mutawa -: Ali Mohammed Al Mutawa is the leader of AWQAF Dubai. He helps make sure the organization is doing a good job managing and investing money for minors.
Mohammed bin Rashid Al Maktoum -: Mohammed bin Rashid Al Maktoum is a leader in Dubai. He gives important instructions and guidance to organizations like AWQAF Dubai to help them do their work well.
Real estate -: Real estate means property like land and buildings. AWQAF Dubai invests in real estate to make money grow for minors.
Low-risk government entities -: Low-risk government entities are safe places to invest money, like government projects or bonds. They are called low-risk because they are less likely to lose money.
Portfolio -: A portfolio is a collection of investments. AWQAF Dubai has a portfolio that includes different types of investments to help minors’ money grow safely.
