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Ajman eyes endowment-driven growth, social solidarity

Ajman ruler Sheikh Humaid bin Rashid Al Nuaimi emphasizes the importance of enhancing public awareness about endowments. (WAM)
  • Ajman's 2023 endowment report reveals $541.6 million across 222 endowments, benefiting education, welfare, and mosque affairs.
  • The latest report notes high trust in endowment management, with 79 percent of endowments managed by related entities.

AJMAN – Endowments play a historic role in achieving social solidarity and supporting humanitarian and charitable efforts, and are key to achieving development that benefits various segments of society, said Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman.

He emphasized the importance of enhancing public awareness about endowments and their role in sustainable community development, thereby contributing to the launch of new endowment projects and initiatives in the emirate.

Sheikh Humaid also instructed relevant parties to study the social impact of endowments in the emirate, given their humanitarian and social significance.

This directive was given as he reviewed, alongside Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, the outcomes of the “Endowments in the Emirate of Ajman for 2023” report.

This report, prepared by the Ajman Statistics Centre in collaboration with relevant authorities, revealed that Ajman has 222 real estate and non-real estate endowments, valued at a total of AED 1.989 billion, (US$541.6 million) contributed by 166 donors.

Remarkably, 94 percent of endowment returns supported institutions managing mosque affairs, general welfare, and education.

The report also highlighted that 79 percent of endowments are managed by entities related to endowments, reflecting the community’s trust in them.

Upon reviewing the report, Sheikh Humaid remarked, “Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment affairs and the development and implementation of sustainable community development plans, in addition to drafting strategies for new endowment projects in the emirate.”

Sheikh Ammar reiterated Ajman’s commitment to promoting endowment and charitable projects in the emirate through the concerted efforts of all relevant entities. These efforts aim to implement Sheikh Humaid’s directives to enhance the quality of life and provide a stable living environment for the emirate’s citizens and residents.

Sheikh Ammar urged continuous efforts to develop endowments in the emirate towards sustainable endowment and encouraged individuals and institutions in the community to participate in endowment initiatives.