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Public News Awqaf and Minors Affairs Foundation, Dubai foundation for women and children sign cooperation agreement in endowment field

News Date: July 31, 2019
Awqaf and Minors Affairs Foundation, Dubai foundation for women and children sign cooperation agreement in endowment field

Awqaf and Minors Affairs Foundation (AMAF) today signed a cooperation agreement with the Dubai Foundation for Women and Children (DFWC) with regard to investing in a plot of land for endowment purposes. Located in Al Warqa 1 area in Dubai, the 15,100 square feet plot of land will be used to construct a building, the proceeds from which are to be allocated to endowments.

His Excellency Ali Al Mutawa, Secretary General of AMAF and Her Excellency Afra Al Basti, Director General of Dubai Foundation for Women and Children, signed the agreement at AMAF’s headquarters in Dubai’s Al Nahda area in the presence of several directors and officials from both entities.

 

Under the agreement, 30 percent of the net revenues from the endowment property will be allocated to AMAF’s reconstruction portfolio. The Foundation is tasked with the construction, investment, leasing and managing the property, as well as with the distribution of the remaining 70 per cent of the net income.

His Excellency Ali Al Mutawa said: "Through this cooperation agreement with the Dubai Foundation for Women and Children, we reiterate our commitment to working collaboratively with various governmental and semi-governmental entities keen to enable the needy and underprivileged segments of society. In doing so, we contribute to achieving the UAE's strategic goals of raising the economic growth rate and ensuring the continued focus on expanding charitable initiatives towards shaping a cohesive society."

Her Excellency Afra Al Basti stressed the importance of this project and the ongoing synergies with AMAF in augmenting DFWC’s resources to help it meet its increasing obligations towards women and children that are victims of violence and human trafficking. Women and children under DFWC’s care receive all their basic needs and services free of charge, including educational and health services.

Al Basti commended AMAF’s continued support for DFWC’s projects, and noted that the cooperation agreement reflects the UAE leadership’s efforts to enhance integration and solidarity among various entities with regard to better serving the community

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