Revenue from the fund will finance the university expenses of orphans under AMAF s care
Dubai: The university expenses of minors and orphans under the care of the Awqaf and Minors Affairs Foundation (AMAF) is now taken care of, thanks to a Dh20-million endowment fund given by an Emirati woman.
The AMAF on Thursday announced the establishment of its first education endowment, jointly set up under the names of Dawlat Mahmoud Al Mahmoud, who donated Dh20 million, and her late husband Abdul Gafour Ali Gargash.
The education endowment is the largest of its kind received by AMAF to date, and reflects a mature understanding of the Emirati culture of endowment that supports government efforts in meeting basic human needs and aids long-term sustainable development. Educational and health endowments, in particular, create successful models for sustainable charity work and reinforce the value of social capital when used in the right place.
The donation will be carefully invested in financial instruments on AMAF’s behalf. The annual revenues from the education endowment will be dedicated towards offering outstanding orphans in AMAF’s care scholarships to study at the University of Dubai, University of Sharjah, Paris-Sorbonne University Abu Dhabi, and other national and international universities operating in the UAE.
The beneficiary students will be encouraged to pursue specialisations that are in demand in the labour market and support the UAE’s plans and strategies to enhance its global competitiveness in the future.
Tayyeb Al Rais, secretary-general of AMAF, said that as a gesture of appreciation to Mahmoud and her late husband for the generous allocation, AMAF will name the library at its Family Village after them.
Al Rais said: “This initiative marks an important milestone in the UAE’s journey of endowment and charity work. We hope it will inspire Emirati citizens to invest in the country’s human capital through similar education endowment initiatives, whose revenues are dedicated to supporting education, knowledge and sustainable development.”
“As the Year of Giving draws to an end, and we gear up to welcome the Year of Zayed, this generous donation is a clear message that nations can only advance with the efforts and loyalty of their people. Emiratis will continue to serve as role models in generosity as they prioritise the greater good of the country and the world at large,” he added.