Post by : Badri Ariffin

In a strategic development for philanthropy in the UAE capital, the Endowments and Minors’ Funds Authority (Awqaf Abu Dhabi) has formed a partnership with Abu Dhabi Islamic Bank (ADIB). This initiative is aimed at refining the endowment landscape, facilitating digital enhancements, and amplifying sustainable contributions throughout Abu Dhabi.

The collaboration introduces a robust framework for licensed endowment entities, which include companies, institutions, real estate organizations, and farms. These entities will now be able to establish dedicated accounts with ADIB and benefit from a suite of specialized banking services tailored for transparent and efficient management of endowment funds.

ADIB will provide Sharia-compliant solutions, offering an array of services such as online banking, payroll processing, account management solutions, and systems for collection and payment. This ensures that all financial transactions are executed securely, efficiently, and in accordance with Islamic principles, thereby enhancing operational accountability for endowment organizations.

Additionally, the partnership allows the public to contribute directly to accredited endowment portfolios through ADIB’s digital platforms. Donors can choose causes related to healthcare, education, social welfare, orphan support, and community development. Every contribution is deposited into dedicated accounts managed by Awqaf Abu Dhabi, ensuring both transparency and proper fund oversight.

This collaboration not only strengthens the regulatory framework and oversight of Awqaf Abu Dhabi but also supports its ambition to position Abu Dhabi as a leading hub for innovative and well-regulated endowment practices. By marrying technology with governance, the initiative aims to foster a resilient ecosystem that maximizes social impacts, encourages financial inclusion, and inspires long-term philanthropic commitment in the Emirate.

#Global News #Abu Dhabi News #UAE News