Awqaf and Minors Affairs posts 19% revenue rise

DUBAI / Emirates Business

Dubai’s Awqaf and Minors Affairs Foundation (AMAF) has issued its annual report for 2015, recording a 19 percent growth in revenue to hit AED172 million compared with AED144 million in 2014. Over the past year, the Foundation has emerged as a global model for endowment development and nurturing of minors.
In 2015, AMAF’s five endowment accounts — Social Affairs, Health, Education, Islamic Affairs, Piety and Righteousness — received total funds of about AED72 million. Currently, 26 projects and initiatives benefit from these accounts, having doubled in number since 2014.
His Excellency Tayeb Abdul Rahman Al-Rais, Secretary General of AMAF, said, ”The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have created an environment conducive to the development of endowment and care of minors. This has enabled the Foundation to generate higher revenues in the past year. Orphans and minors under our care will greatly benefit from this achievement that also empowers us further to ensure their wellbeing in a truly sustainable way.”
Al Rais pointed out that 2015 marked an important period in AMAF’s history. Apart from increased revenue, the Foundation expanded the scope of its projects’beneficiaries, and launched a number of new time-saving services, including smart donations, in line with the smart government initiative. He expressed thanks to all those who offered their support, whether in cash, kind or in media exposure. “Our benefactors’ contribution to achieving the objectives of communal harmony and strengthening the spirit of charity and solidarity must not be forgotten,” he emphasised.
In 2015, the Foundation spent AED27 million in aid to children, providing housing, education, medical treatment, financial and material assistance. The organisation also held 70 events dedicated to nurturing and training of minors. Building on the efforts of its innovation team, specializing in developing new services and improving existing ones, the Foundation launched four new initiatives to enhance its service offering, including empowerment, training, disbursal of financial dues and smart social research.
In the past year, AMAF’s Endowment Development Department scored a number of significant achievements in its drive to develop endowment assets, build fruitful endowment relations, and encourage innovation in managing endowment operations. Having organised a number of visits to charitable institutions and potential benefactors to trump up much-needed support, it succeeded in acquiring new endowment assets, such as the Saif Al Ashram endowment.