Awqaf and Minors Affairs Foundation (AMAF) in Dubai announced the allocation of a range of donations and grants from its endowment funds in 2015 valued at AED6,673 million. The allocations reiterate the Foundation’s vital role in supporting the social security system and enhancing the contribution of endowments to the sustainable development of Dubai through sharia-compliant investments.
Ahmad Abu Shehab, Director of AMAF’s Waqf Development Department, pointed out that 23 local and federal entities across the UAE benefitted from the allocated funds that were distributed among 12 initiatives in four categories.
An amount of AED1.3 million (19%) was donated to healthcare projects, while AED840,000 (13% of the total amount) was disbursed to education-focused initiatives. A further sum of AED2,727,500 (41%) was earmarked for social affairs projects. In addition, an total of AED1,805,815 (27% of the total amount) was allocated to projects that support AMAF’s righteousness and piety mandate.
Ahmad Abu Shehab said: "The Awqaf and Minors Affairs Foundation (AMAF) in Dubai has registered a significant increase in number of beneficiaries – from 16 in 2014 to 23 last year. We also saw a surge in the value of distributed money to AED6.67 million in 2015, marking a 15% rise over 2014. AMAF’s continued support to community-focused initiatives is a critical aspect of our mandate to enhance the contribution of Waqf-based development to the economy of Dubai and the wider UAE.”