Dubai: According to the new reports that the International Institute for Islamic Endowment publishes, the Awqaf and Minors Affairs Foundation (AMAF) of Dubai has come on the world’s top institutions for Sharia-compliant endowment performance.
As per the reports of Islamic Endowment Strategic, the UAE ranked as one of the best performing among 54 countries for its pioneering role in developing the Islamic endowment sector.
To create the report, a team of 50 experts and researchers from various Islamic countries evaluated the 54 countries’ endowment performance between 1996 and 2021. The countries included in the study were divided into three categories, with the UAE ranked first for 2021.
The organizational summary of the report of strategic, and they launched this report at a ceremony that was attended by officials from various Awqaf ministries in the Islamic world, and Dr Mahathir Mohamed, former Prime Minister of Malaysia and Dr Ahmed Al Muraikhi, Special Adviser to the Secretary-General of the United Nations.
The Global Institute for Islamic Endowment congratulated AMAF for being ranked among the best institutes in the whole Islamic world for endowment performance.
The International Institute for Islamic Endowment congratulated AMAF for being ranked among the best institutions in the Islamic world for endowment performance. The report assessed countries’ performance using foresight methodologies and tools. The Institute stated it measured the progress of countries in the sector and the adaptability of various institutions against the backdrop of rapid global changes.
Ali Al-Mutawa, Secretary-General of AMAF, praised the International Institute for Islamic Endowments for the report. It promotes a greater exchange of knowledge and expertise between endowment institutions worldwide.
He further added that the report would encourage governments, communities, and various countries’ private sectors to develop and maximize returns on endowment investments.
He expressed the foundation’s commitment to promoting growth in endowment allocation rates across the board, as well as collaborating and sharing its expertise with other countries to assist them in developing their endowment sector.