Awqaf-KAHF ink contract for AED8mn endowment project

DUBAI / WAM

Awqaf and Minors Affairs Foundation (AMAF) in Dubai and the Khalaf Ahmed Al Habtour Foundation for Charity (KAHF) signed an awqaf investment partnership contract to build a residential commercial building for endowment.
Revenues earned from the building will be allocated to the Umom Al Kheir Bank, run by AMAF. KAHF will provide full funding for the project, estimated at AED8 million.
Tayeb Abdulrahman Al-Rais, Secretary-General of AMAF, and Abdul Salam Mahmoud Al Marzouki, General Director of KAHF, signed the partnership contract in the presence of Khalaf Ahmad Al Habtoor, founder of KAHF and prominent UAE philanthropist, as well as senior representatives of both organisations.
Al-Rais said, “Transcending caring
for underprivileged communities, waqf (endowment) has always served as a viable foundation for social and economic empowerment, and contributed to the development of human societies. Through charitable endowments, AMAF routinely seeks to fulfil people’s needs while enhancing their standard of living.”