President of the UAE has issued a law establishing the Awqaf and Minors Affairs Authority in Abu Dhabi

President of the UAE, His Highness Sheikh Mohamed bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued a law establishing the Awqaf and Minors Affairs Authority (AMAA) in Abu Dhabi.

The Social Care and Minors Affairs Foundation (SCMAF) will transfer all of its assets, properties, rights, and obligations to AMAA, which will thereafter take over the SCMAF's duties.

AMAA will take all necessary steps to assume management of endowment affairs in the emirate, including endowment registration, supervision, regulation, and control, as well as the granting of permits for endowment institutions in the emirate, in coordination with the General Authority of Islamic Affairs and Endowments and concerned authorities.

To provide a sustainable quality of life, AMAA will manage endowment and minors' money by carefully investing, growing, and protecting these assets. AMAA is authorised to do business both domestically and internationally in accordance with safe investing practises. AMAA is also permitted to form and purchase shares of businesses and funds in order to invest money domestically and internationally in compliance with Sharia and applicable laws.

AMAA will form an investing committee, comprised of non-AMAA personnel, to make decisions about the investment of endowment and minors' assets, as well as the optimisation of returns in compliance with best financial investment practises and applicable legislation.

In order to encourage endowment culture, the virtues of giving, and social solidarity among community members in the emirate, AMAA will arrange events, conferences, and seminars on the management of endowment and minors' money.