The Dubai Endowment distributes 22 million dirhams in profits to minors
The Foundation achieved an annual increase in the returns of minors' investments compared to previous years.
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The Foundation for Endowments and Minors Affairs in Dubai announced the distribution of profits from the investments of minors covered by its sponsorship, which amounted to 22 million dirhams for the year 2021, according to the foundation’s primary role in caring for and investing the funds of minors.
The Foundation’s Board of Directors held its second periodic meeting for this year, headed by the Chairman of the Board of Directors of the Foundation, Issa Al Ghurair, and the Secretary-General, Ali Al-Mutawa, and the presence of the members of the Board. And a number of new investment projects were put forward, and the board of directors decided to permanently close the file of Deyaar Real Estate, by not communicating and claiming any financial dues, after the real estate company reported earlier that there were no claims from the company to the institution and vice versa.
He added that the Foundation aspires to increase its investments and open new horizons in the field of organizing and developing endowment projects in order to maximize the financial return and reduce expenses in order to ensure optimal care for the funds of minors and achieve the wishes of donors according to best practices while ensuring that the endowment proceeds reach their beneficiaries in cooperation with various authorities.
For his part, Ali Al-Mutawa said that the Foundation achieved an annual increase in the returns of minors' investments compared to previous years, and it includes real estate and commercial investments and shares.
He added that this increase in minors' profits confirms the Corporation's keenness to preserve the minors' funds while not exposing the capital to risk, as well as developing and developing them in accordance with the provisions of Sharia.
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