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The Board of Directors of the Dubai Awqaf and Minors Affairs Foundation (AMAF) has decided to distribute cash dividends worth AED 35.7 million, to be disbursed during the fiscal year 2025. This represents a 3.5% increase, representing an increase of approximately 16% compared to the previous year. The Board also decided to transfer AED 14.3 million to the reserve account, bringing the net balance available for distribution to AED 50 million.
This came during the Board's tenth meeting for the current year, chaired by His Excellency Essa Al Ghurair, Chairman of the Board of Directors, and attended by members of the Board and His Excellency Ali Al Mutawa, Secretary General of the Foundation. The meeting addressed a range of strategic topics and vital projects implemented by the Foundation, in addition to discussing the financial performance report on minors' profits for 2024.
The board reviewed the key features of the institution's performance in managing minors' funds, enhancing the sustainability of investment returns and achieving the highest levels of transparency and accountability for this group. The board also presented the management report and minors' balances at the end of 2024, which amounted to AED 1.022 billion, with revenues amounting to AED 64 million and expenditures amounting to AED 14 million.
The meeting reviewed the Foundation's most prominent investment projects, most notably the Al Khawaneej Mall project, which is one of the Foundation's pioneering initiatives to boost the Foundation's revenues and develop endowment funds in line with the economic and social development requirements of the Emirate of Dubai. The Council commended the project's progress, directing adherence to the timetable to ensure rapid completion in accordance with the highest standards.
His Excellency Essa Al Ghurair emphasized that the Foundation operates within a comprehensive vision aligned with the directives of the wise leadership, to develop endowment projects that serve the community, enhance social solidarity, and achieve sustainable development in accordance with Dubai Vision 2030.
Al Ghurair highlighted the importance of developing the Foundation's investment tools to ensure the sustainability of its resources and its ability to provide ongoing support to the groups it supports, within a framework of transparency and financial efficiency.
For his part, His Excellency Ali Al Mutawa, Secretary-General of the Awqaf and Minors' Funds Management Foundation, affirmed that the Foundation is proceeding with the implementation of its ambitious strategy for developing endowments and managing minors' funds, contributing to achieving sustainable development and enhancing community impact.
He said, "We operate according to a clear vision based on the highest standards of governance and transparency, and we look forward to continuing to achieve positive financial and investment results that benefit minors and other beneficiary groups, in line with the directives of our wise leadership."
Al-Mutawa added, "The decisions adopted at the meeting, particularly those related to approving the profit distribution percentage and increasing revenues, reflect the Foundation's commitment to its responsibility toward the groups it supports and its commitment to managing and developing minors' funds in a way that guarantees their rights and enhances the sustainability of the Foundation's resources
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