Dubai Endowments Adopts A New Corporate Identity

A new corporate identity has been revealed for the Endowment and Minors’ Trust Foundation in Dubai. The rebranding decision comes after the issuance of Law No. (17) according to which the foundation has been renamed to “Endowments Foundation and Management of Minors’ Funds in Dubai” by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and ruler of Dubai.

The new identity guide, as informed by the foundation, used a set of elements suited for a well-maintained corporate image that also matched with the media produced by the foundation. It is also a step toward the future as the new branding will reflect the identity of the foundation as a dynamic and distinct entity.

His Excellency Ali Al-Mutawa Observed The Logo

The use of green and gold colors in the logo signifies the commitment of the organization toward noble human values. The green color also symbolizes growth and happiness while the gold color signifies stability, sophistication, durability, and value. 

The new logo “Dubai Endowments (Awqaf Dubai)” oozes the beauty and integrity of the classic Arabic calligraphy with a horizontal arrangement. The sharp lines of the logo are representative of the trust and merit that have always been part of the core values of the organization.

His Excellency Ali Al-Mutawa, Secretary-General of the Foundation observed that the new logo represents the core beliefs of the foundation and it adds a new dimension to the plans and ambitions of the foundation. The organization’s efforts to stand on the side of noble human values that are an inherent part of the Emirati community can also be observed in the style of the new logo.

According to Al-Mutawa, the green color also embodies the larger aim of the organization in achieving sustainability in its charitable endeavors and investments while the golden color projects the pioneering spirit of the organization. 

He expressed confidence in the new presentation and rebranding of the organization and believed that more than a cosmetic change, the new face of the foundation will help in achieving future goals. The expansion plans of the organization shall also be part of a larger humanitarian vision that is designed within the framework of laying a solid groundwork for goodness and development through the social fabric of the Emirati community. 

The Dubai administration launched a new law in October last year to regulate endowments and minors’ trust in its efforts to improve social welfare and development. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Ruler of Dubai issued Law No.17 of 2022 on the Foundation which is now renamed as Dubai Endowments.

He has also issued law No 18 of 2022 that affiliates the Mohammed bin Rashid Global Center for Awqaf and Endowment to the foundation. 

The basic purpose of an endowment is to donate money or property to a non-profit organization and they will use it for a specific investment purpose. In the context of Dubai, the Awqaf and Minors Affairs Foundation is responsible for monitoring the matters of the waqf establishment.

Waqf is a charitable endowment established under Islamic law. The asset or property donated shall not be reclaimed back and it is meant to be given as a form of charity. 

By the end of 2021, the foundation had registered around 761 endowments that were worth Dh 7.71 billion and these endowments include charitable, progeny, and joint endowments. 

Major portions of the endowments were Real Estate endowments, which came up to 700 out of the total 761 and the remaining 61 were financial assets and stocks. Out of the total number of people who donated these endowments, 561 were made by men, 130 were women and the remaining 70 were made by institutions or other entities.

Women-led endowment activities had seen a steady increase in 2021 and they mainly focused on improving areas like education, and health as well as empowering orphans and people of determination. 

Earlier in 2016, Sheikh Mohammed had pledged Dh 5 billion as endowments for fulfilling various social and charitable goals throughout the Middle-east.

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He pledged this amount during the launch of the Mohammed bin Rashid Global Center for Endowment Consultancy, This consultancy was created to offer free advice to organizations who are planning to set up endowments.     

In July 2022, the Awqaf Dubai foundation announced the launch of four new endowment projects worth DH 56.2 million. These projects would be spread between different projects of constructing residential villas and residential complexes for workers in various locations in Dubai.

The profits that would be derived from these projects shall be used for the funding of education, health, and care for women, children, and people of determination.

The foundation was also looking at the possibility of restoring old buildings in Dubai as part of the UAE’s sustainable development plans. According to the new regulatory law of the endowments foundation, the endowments are exempted from any sort of taxes, fees, or litigation fees.