Dubai-UAE: 25 February, 2015 - Awqaf and Minors Affairs Foundation (AMAF) has announced that the total value of zakat (alms) distributed according to Islamic principles on behalf of minors and other categories within AMAF’s care amounted to AED6,196,270 million in 2014. The money was accumulated from cash, shares, bonds and property investments that belonged to minors.
AMAF currently has 2,001 minors under its care that are mandated to pay zakat according to Islamic sharia. While the total value of zakat in cash registered AED2,384,456 million, the value of zakat raised through properties and investments was AED3,811,814 million. The number of beneficiaries from AMAF’s zakat fund for 2014 included 550 minors and adults. Zakat was paid out as in-kind allowances for residential, educational and health charities, in addition to emergency aids.
His Excellency Khaled Al Thani, Deputy Secretary General of AMAF, said: “As AMAF is the only entity responsible for minors in Dubai, the Foundation pays special attention to preserving and managing the finances of those in similar circumstances and categories. We also work to develop the capabilities of minors to help them become productive members of their communities.”
“The zakat was distributed to the more underprivileged minors as part of the Dubai government’s efforts to take care of their basic needs as well as those of their families,” he added.
Ahmad Al Yasi, Director of Financial Affairs Department at AMAF, said: “The financial department supervises the extraction of zakat in cooperation with the sharia committee, while special cases that need a sharia ruling are presented to the committee for its evaluation.”
Al Yasi pointed out that the zakat paid in 2014 was 51% less than in 2013 as many minors had become adults and did not require this contribution to be handled on their behalf.