Islamic Finance

Islamic Affairs and Charitable Activities Department, Awqaf and Minors Affairs Foundation sign cooperation agreement


United Arab Emirates, Dubai, March 6, 2019: Islamic Affairs and Charitable Activities Department (IACAD) and Awqaf and Minors Affairs Foundation (AMAF) signed a cooperation agreement to develop the Department’s endowment land in the Muhaisnah area of Dubai that spans 40,000 square feet through an investment from the Foundation.

His Excellency Dr Hamad bin Al Shaikh Ahmad Al Shaibani, Director General of IACAD, and His Excellency Ali Al Mutawa, Secretary General of AMAF, signed the agreement.

The signing ceremony drew the participation of Ahmed Darwish Almuhairi, Executive Director of the Charitable Activities Sector at IACAD, Butti Abdullah Al-Jumairi, Executive Director of the Corporate Support Sector at IACAD, His Excellency Khaled Al Thani, Deputy Secretary General of AMAF, and Ahmed Bu Shihab, Director of AMAF’s Endowment Development Department. Also present were members of several working groups from the two entities.

Highlighting areas of cooperation between the two parties, the agreement mandates AMAF to develop IACAD’s endowment land, increase its revenues and ensure the sustainability of the endowment through continued investments.

His Excellency Dr Al Shaibani welcomed IACAD’s charitable cooperation with AMAF. The agreement aligns with the Department's vision of building synergies with other government institutions to serve the community, and will help achieve the shared humanitarian and strategic objectives of the two entities.

For his part, His Excellency Ali Al Mutawa said that the agreement supports Article 9 of the Fifty-Year Charter, announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The article aims to achieve annual growth in humanitarian work to increase the levels of happiness in society, improve quality of life, and ensure progress and prosperity for all.


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Awqaf