Dubai PR Network, Online Press Release from Dubai and Middle East
 
Charity & Humanity(Government, Legal & Humanity)
Filter PR by
  
Awqaf and Minors Affairs Foundation Spends Total Endowment Fund of AED49 Million in 2016
 

Dubai-UAE: 10 January, 2017:  The Awqaf and Minors Affairs Foundation (AMAF) announced the expenditure of the entire amount of its five endowment funds estimated at AED49 million in 2016. AMAF’s endowment funds are categorized under Islamic affairs, social affairs, healthcare, education, and righteousness and piety. 

The Islamic affairs endowment fund ranked first in expenditure - disbursing AED41.3 million during 2016, representing approximately 84 percent of the overall budget for the year. AMAF further designated a sum of AED4.4 million towards the causes of righteousness and piety (making up about nine percent of the total spend), followed by AED1.6 million (three percent) towards social affairs, AED1.3 million (three percent) towards healthcare, and AED700,000 (one percent) towards education.  

His Excellency Khaled Al Thani, Deputy Secretary General of AMAF, said: “In line with the directives of our wise leadership, our Foundation manages, invests and spends endowment funds to address and resolve some of the most pressing social challenges. As part of our efforts to reinforce the leading position of Dubai and the UAE in charitable and humanitarian work, we are keen to finance initiatives that align with our vision and goals, and enhance social solidarity.”  

He added: “We normally direct 40 percent of all AMAF’s revenues towards reconstruction projects and 60 percent towards our endowment funds that are used in accordance with the donors’ specifications and comply with the noble objectives of Islamic sharia. Our annual plan for 2016 allocated the total spend towards helping those social segments that were most in need. We have no doubt that our contribution made a significant difference to the lives of thousands of people in the UAE and around the world.” 

In addition to the five main endowment funds, AMAF also manages private funds. Among the most notable ones is the endowment of the late Mohammad Ahmad Beghlaf, which supports diverse religious, healthcare, social and humanitarian initiatives across the globe.  

Posted by : Dubai PR Network Editorial Team
Viewed 6783 times
PR Category : Government, Legal & Humanity
Posted on : Tuesday, January 10, 2017  4:50:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Abu Dhabi to host major conference to tackle Middle East and...
Next Story : ADFD Ranks Second in UAE Foreign Aid Contributions for 2015,...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
BIODERMA Hydrabio Serum and Sensibio Gel moussant [28591-Views]
Kate Winslet launches the exclusive Flagship Heritage by Kate Winslet timepiece to be auct... [27554-Views]
Joyalukkas announces ¼ Kilo Gold Winner of the ongoing ‘Joyalukkas Shop & Win Upto 60 Kg G... [24388-Views]
Malabar Gold & Diamonds announced its Summer offers – Win up to 75 Gold Bars [22692-Views]
Paris Gallery's Eid Gift Guide: The Fragrance Edit [21307-Views]
Joyalukkas conducts 75th Blood Donation Camp [19526-Views]
Montblanc: The perfect gift guide [18977-Views]
Jewel Corner Launches A Brand New Kiosk In The UAE [16976-Views]
SALLY HANSEN Nail Trend Report FREE FORM & NEGATIVE SPACE [16781-Views]
Ulysse Nardin - Classic Dual Time Enamel [16092-Views]
Louis Moinet - Stardance brings down the stars for Eid Al Fitr [16043-Views]
The Admiral sets sail on an ocean of colours [15744-Views]
CITIZEN L… Ideal for the Stylish Woman this Eid [15640-Views]
RAYMOND WEIL Shine Etoile makes a stunning Eid gift [15616-Views]
Citizen Presents Three Stunning New Models for Father's Day [14628-Views]
Joyalukkas presents ¼ Kilo Gold to the Winner of the ongoing ‘Joyalukkas Shop & Win Upto 6... [14561-Views]
Celebrate Father's Day in 'Swiss Style' with RAYMOND WEIL [12975-Views]
Happy Father's Day with Ulysse Nardin Executive Skeleton Tourbillon [12718-Views]
Skyline University College Iftar Dinner and Cricket Match for 200 Sharjah Laborers [10614-Views]
SAINT HONORE Opéra is Ideal for the Stylish Woman [9858-Views]
Joyalukkas Win Upto 60 KG gold promotion Lucky winner announced in the UAE [9400-Views]
SAINT HONORE Charisma Twist [8491-Views]
Paris Gallery Eid Gift Guide: The Watch Edit [8442-Views]
Cook Smart with LG this season [7881-Views]
First SUC Regional Workshop on Open Source in Technologies for Libraries [7832-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories