Dubai has launched a new law to regulate endowments and minors’ trusts as part of efforts to support the UAE’s vision for social development and welfare.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, issued law No 17 of 2022 on the emirate's Endowments and Minors’ Trust Foundation, Dubai Media Office said in a statement on Thursday.
He also issued law No 18 of 2022, affiliating the Mohammed bin Rashid Global Centre for Awqaf and Endowment to the foundation.
Law No 17 of 2022 applies to the Awqaf and Minors Affairs Foundation, which was created pursuant to law No 9 of 2007, the statement said.
The name of the foundation will be changed from Awqaf and Minors Affairs Foundation to the Endowments and Minors’ Trust Foundation, Dubai Media Office said.
An endowment is a donation of money or property to a non-profit organisation, which uses the resulting investment income for a specific purpose, according to Investopedia.
The Awqaf and Minors Affairs Foundation was responsible for overseeing and monitoring the waqf establishment. Waqf is a charitable endowment under Islamic law.
The foundation registered 761 endowments at the end of 2021, representing a total value of Dh7.71 billion ($2.09bn). The registered endowments included charitable, progeny and joint endowments.
Real estate endowments comprised 700 of the total, while 61 were financial assets and stocks. Men accounted for 561 out of 761 endowments, while women contributed 130, and entities and institutions were responsible for 70 endowments, the foundation reported.
Women’s participation in endowment activity in the UAE experienced a marked increase last year. They played an important role in supporting the education and health sectors as well as empowering orphans and people of determination.
Women-led endowments included real estate, financial assets, stocks and in-kind donations.
Sheikh Mohammed pledged a Dh5bn endowment towards social and charitable goals throughout the Arab world in 2016 in tandem with the launch of the Mohammed bin Rashid Global Centre for Endowment Consultancy, which provided free advice to organisations on setting up endowments.
Both the new laws will be effective from the date of their publication in the Official Gazette, Dubai Media Office said.
The new law specifies the mandate, functions, responsibilities and organisational structure of the foundation.
It also outlines the foundation’s duties and responsibilities regarding the management of Sharia-compliant endowments and donations, with the exception of those generated by mosques.
The law lists the powers granted to the foundation to invest endowment funds in Sharia-compliant investments, the statement said. It also defines the foundation’s functions related to the management of minors’ funds.
A special register of wills created by the foundation will list those issued pursuant to a court decision or ruling.
Under the new law, endowments are exempted from fees, taxes and litigation fees, Dubai Media Office said.
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Rooney's club record
At Everton Appearances: 77; Goals: 17
At Manchester United Appearances: 559; Goals: 253
UAE currency: the story behind the money in your pockets
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Fight card
1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)
2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)
3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)
4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)
5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)
6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)
7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)
8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)
9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)
10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)
11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)
12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
RESULT
Los Angeles Galaxy 2 Manchester United 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
