Announces net profit of AED 2.5 million in the first quarter 2013
Dubai-UAE:June 25, 2013 - The Board of Directors of Awqaf and Minors Affairs Foundation (AMAF)held a meeting chaired by His Excellency Hussain Ahmed Al-Qemzi, Chairman of AMAF, to discuss the Foundation'slatest developments and financial performance for the first quarter of 2013, as well as plans and strategies for the period 2013/2017. The meeting also included review of some models of performance indicators of the Foundation's leadershipduring 2013 in addition to announcing a net profit of approximately AED 2.5 million for the first quarter of the current year.
During the meeting, board members approvedthe strategic plan 2013-2017 which included the Foundation's vision and how it should interact with multiple segments of society. The strategy also stresses on the maintenance and growing of the financial assets of the minors and the like, and its keenness to rehabilitate and enable every minor to be an active member of the community, ensure sustainable financial development of the Foundation, provide an ideal working environment to make AMAF a preferredemployer, increase the effectiveness and transparency of all systems, processes and procedures to achieve professionalism in dealing with beneficiaries, in addition to makingAMAF a global role model in applying the best standards and practices for environmental conservation.
The meeting also reviewed the performance indicators for the executive plans and initiatives of the Foundation's departments for the year 2013 and their achievements during the first quarter of 2013 which reflected positively on the performance of the Foundation.Board members agreed that these indicators bereported quarterly to the Board of Directors to review them and follow-up on completion rates of plans and initiatives to achieve the strategic objectives of the Foundation.
His Excellency His Excellency Hussain Ahmad Al-Qemzi, Chairman ofAwqaf and Minors Affairs Foundation (AMAF), said: “Through this meeting we wanted to highlight the most prominent achievements of the Foundation and discuss the challenges it is facing. We also discussedour plans and strategies and the efforts made during the first quarter of 2013, in addition to our staff performance.”
“We are pleased to see remarkable progress in the performance of AMAF's operations in all financial and professional areas, and we are delighted to witness true and continued dedication of our Board members to supportgrowing of endowments and rehabilitation of minors”, he added.
Operating according to the guidelines of best practices in corporate governance, AMAF is considered the primary reference for endowments in Dubai and the authorized body for the welfare of minors. The Foundation is reputed among the community, endowers and private institutions across the globe for its transparent operation that includes the issuance of periodic reports to endowers and guardians of minors. AMAF comprises a highly-qualified management and specialized human resources team, most of who are UAE nationals.