Post by : Elena Malik
Photo : Dubai Government Media Office
The Dubai Centre for Family Businesses, operating under Dubai Chambers, successfully concluded a seminar focused on the 'Uses of Waqf, Foundations, and Trusts in Family Businesses.' Held as part of the Governance Series, the event attracted over 40 representatives from family businesses.
His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and His Excellency Ali Mohammed Al Mutawa, Secretary General of Endowment and Minors' Trust Foundation, were prominent figures at the seminar. They emphasized the significance of using endowments, foundations, and trusts in family businesses to ensure their longevity and sustainability.
Speakers from Awqaf Dubai and global law firm Clyde & Co provided insights into the legal aspects and operational procedures related to waqf, foundations, and trusts. They highlighted the advantages of these structures in preserving family wealth and facilitating the growth of family enterprises.
Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel
Mohammad Ali Rashed Lootah underscored the center's commitment to enhancing Dubai's business environment for family businesses. He emphasized the role of these businesses in Dubai's economic success and their contribution to achieving the goals outlined in the Dubai Economic Agenda (D33).
Ali Mohammed Al Mutawa elaborated on the role of family endowments managed by Awqaf Dubai, totaling 99 and valued at 2.8 Billion Dirhams. He emphasized that these endowments are crucial for securing the future of descendants and ensuring their financial stability regardless of external circumstances. Al Mutawa also noted the growing adoption of endowment culture in the UAE, encompassing charitable, family, and mixed endowments.
The Governance Series, a key initiative by the Dubai Centre for Family Businesses, aims to educate family businesses on governance frameworks, succession planning, and compliance with regulations. It provides a platform for knowledge exchange and networking among local, regional, and international family businesses, fostering a supportive ecosystem for their sustained growth.
Launched in May 2023, the Dubai Centre for Family Businesses is dedicated to bolstering the role of family-owned enterprises in Dubai's economy. It seeks to enhance their economic impact and support their development through tailored initiatives and strategic support.
#trending #latest #FamilyBusinesses #DubaiChambers #Waqf #Foundations #Trusts #GovernanceSeries #BusinessDevelopment #EconomicGrowth #Endowment #DubaiEconomy #breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai
Ahmedabad Plane Crash: Over 100 Bodies Recovered, Flights Resume at Airport After Major Tragedy
An Air India flight carrying 242 people crashed moments after takeoff from Ahmedabad’s international
ICBC Lists $1.72 Billion Green Bonds on Nasdaq Dubai
ICBC lists $1.72 billion green bonds on Nasdaq Dubai from Dubai, Hong Kong & Singapore branches, boo
Air India Flight Crashes After Takeoff in Ahmedabad, 242 on Board
An Air India flight with 242 on board crashed minutes after takeoff from Ahmedabad. Rescue underway
Air India Flight Crashes Near Ahmedabad After Takeoff; Ex-Gujarat CM Suspected Onboard
A tragic air crash occurred in Ahmedabad today as an Air India flight heading to London’s Gatwick cr
Family on tour for Eid, engineer living in Doha: The 5 Keralites killed in Kenya road mishap
Five members of a Kerala-based family, including an engineer from Doha, lost their lives in a tragic
WTC Final 2025, Day 1 Highlights: South Africa Struggle as Bowlers Shine for Australia
Day 1 of the WTC Final 2025 saw bowlers dominate as Australia bowled out South Africa for 43/4 at st
Have a U.S. Visa? You Can Travel to These Countries Without Getting a New Visa
Holding a U.S. B1/B2 visa is not just about visiting the United States—UAE residents can also access
9 Injured in Massive 20-Vehicle Pile-Up in Fujairah Triggered by Car Fire
A fiery collision involving 20 vehicles on Fujairah’s Waeeb Al-Hinna to Dibba road left nine injured