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Dubai, UAE – Awqaf and Minors Affairs Foundation (AMAF) has signed a Memorandum of Understanding (MoU) with Dubai SME to strengthen Dubai’s position in the entrepreneurship and waqf sectors in a way that reflects positively on the economy and society at large.
The agreement was ratified by His Excellency Tayeb Al-Rais, Secretary General of AMAF, and His Excellency Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, at AMAF’s headquarters in Dubai, in the presence of senior officials from both organizations.
The agreement seeks to improve collaborations and synergies between the two entities in supporting SME projects and offer all necessary assistance to Emirati entrepreneurs seeking to launch their own businesses. The partnership will also include providing consultation services to AMAF’s minors once they reach majority towards encouraging them to launch their own enterprises.
For its part, AMAF will offer priority registration and leasing in its stores to members of Dubai SME - including the waqf stores and mosque sites that are under its management.
Speaking on the agreement, His Excellency Tayeb Al-Rais said: “Dubai has become a global hot spot for entrepreneurs keen to launch their businesses and get them off to a great start. Through this agreement, Emirati youth can seamlessly leverage AMAF’s waqf stores to launch new projects or expand existing ones.”
He added: “The agreement marks an important first step in partnering with Dubai SME. We hope to increase our synergies with this entity and like-minded organizations to support Dubai’s strategy of shaping an enabling entrepreneurial environment in the emirate. We also aim to generate waqf revenues to allow AMAF to continue its efforts in enhancing social solidarity, providing care to orphans and minors, and implementing humanitarian projects that improve people’s lives across the globe.”
For his part, Abdul Baset Al Janahi said: "At Dubai SME, in addition to regular assistance with setting up start-ups, we provide entrepreneurs with a range of services such as counseling, supervision and technical support for the success of their businesses – from inception to the eventual scaling up of the project. As part of our agreement with Awqaf and Minors Affairs Foundation, Dubai SME will assist AMAF’s registered members and provide them with the required licenses and opportunities to benefit from the Government Purchasing Program (GPP). It will also facilitate project management training for the minors and caregivers at AMAF.
“The Foundation’s role is not limited to social aspects alone, but is vital in creating a spirit of entrepreneurship in Emirati minors that will help them forge independent start-ups once they reach the legal age.”
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About AMAF (www.amaf.ae )
Awqaf and Minors Affairs Foundation (AMAF) was established by the issue of law No. 6 in 2004 by His Highness the late Sheikh Maktoum bin Rashid Al Maktoum. With the expansion of the institution in its work and functions, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai issued law No. 9 in 2007 strengthening the work of the institution.
AMAF oversees the welfare of nearly 2,400 minor children through the development of ‘waqf’ (trust funds) that provide for their support and the care of their affairs, according to Shari’a principles through a well-structured long term plan, conscious vision and insight.
For More information’s please contact:
Aliaa Al Ori
APCO Worldwide
00971-559637075
aalori@apcoworldwide.com
Tasnim Hijazi
APCO Worldwide
00971-52 9891533
thijazi@apcoworldwide.com
© Press Release 2016
