government

AMAF establishes 4 new committees, approves 2018 budget

Foundation’s new board of directors holds first meeting

WAM
15:39 March 8, 2018

Dubai: The Board of Directors of the Awqaf and Minors Affairs Foundation, AMAF, has announced the formation of four new committees with the aim of improving efficiency, governance, and transparency.

The committees include the Auditing and Governance Committee, the Charity Work Committee, the Investment Committee, and the Endowment Development Committee.

The announcement followed the first meeting of the new board of directors, established by Resolution No.3 of 2018, which was issued by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

Eisa Abdullah Al Gurair, chairman of AMAF, headed the meeting, in the presence of AMAF’s senior officials.

The meeting discussed projects implemented by AMAF in 2017, as well as select aspects of Law No.9 of 2007 and Law No.14 of 2017. The foundation’s annual endowment and investment plans were also on the agenda. The board members also approved the financial budget for 2018.

Al Gurair said, “I thank Shaikh Hamdan for his confidence in AMAF’s work in caring for minors and implementing our leadership’s directives to increase the contribution of endowments to the socio-economic development of the UAE.”

“Endowments play a crucial role in boosting economic sustainability. Therefore, the foundation remains committed to advancing the culture of endowment in the UAE, in addition to equipping the country’s minors and orphans with the necessary skills, knowledge, and ethical values to become upstanding members of the community. One of the objectives of charity work is to ensure that all segments of society can participate in building the country’s future. Our minors and orphans have proved their ability to overcome challenges and their keenness to serve their homeland.”

Ali Al Mutawa, AMAF secretary-general, said, “Investment is a key driver of sustainability for our assets and endowment funds. Investing in the education of our minors and orphans goes a long way in building their characters, instilling positive values, and reinforcing their sense of belonging. It is an investment in a never-ending resource.”