Dubai’s Endowment and Minors’ Trust Foundation (Awqaf Dubai) has announced the registration of the emirate’s first family endowment (Waqf Dhurri) for family businesses, marking a major step towards strengthening the long-term sustainability of family-owned companies in the UAE.
The initiative supports Dubai’s vision of building a modern and sustainable economic ecosystem that can adapt to global economic changes while protecting family businesses and ensuring their continuity across generations.
His Excellency Prof. Abdulsalam AlMadani, Chairman of INDEX Holding, registered the INDEX Holding group of companies in the UAE and overseas as the first family business endowment in Dubai. The move is considered a first-of-its-kind initiative in the emirate and reflects a modern institutional approach to the traditional concept of endowment (Waqf).
The new model focuses on protecting family assets, ensuring business sustainability, and increasing the economic and social impact of family-owned enterprises.
As part of the initiative, a family endowment has been created for the endower and his family. It also includes the designation of the Abdulsalam AlMadani Global Education Center (AGEC), along with its current and future intellectual and industrial property rights, and the Abdulsalam AlMadani Humanitarian Care and Charity Foundation (DIHAD Sustainable Organisation), as charitable endowments.
According to the official deed, Prof. AlMadani will manage the endowment during his lifetime. After that, succession and management will continue under the regulations of the family endowment system, which includes rules for appointing supervisors, distributing returns, and maintaining the sustainability of the endowment.
The endowment will remain under the supervision of Endowment and Minors’ Trust Foundation in line with Dubai Law No. 17 of 2022, ensuring proper governance, transparency, and long-term sustainability.
His Excellency Ali Al Mutawa said the registration of the family endowment represents an important milestone in Dubai’s institutional endowment system. He noted that family endowments help preserve businesses across generations and support the stability and growth of national companies.
Al Mutawa added that the model provides a balanced framework for family asset governance by combining financial sustainability with social impact. He also stressed that Awqaf Dubai remains committed to developing innovative endowment solutions that align with international best practices and strengthen Dubai’s leadership in the sector.
Prof. AlMadani said the initiative redefines the role of family businesses in the national economy by creating a system that protects company values while preparing businesses for long-term growth and future challenges.
He added that Dubai has become a leading model in family asset management by combining governance with social responsibility and creating an environment where family businesses can continue contributing to both the economy and humanitarian causes.
According to Awqaf Dubai, the total value of registered family endowments in the emirate reached around AED 4.8 billion by the end of 2025. The amount is distributed across 251 family endowments, reflecting the growing popularity of this model and its important role in protecting and sustaining family wealth.
