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Abu Dhabi to allow investors to donate shares to charity

Islamic Relief
Islamic Relief's humanitarian work includes helping orphans in the Middle East

The Abu Dhabi Securities Exchange (ADX) has signed an agreement to allow investors to fund charitable causes by donating some of their shares.

The agreement with Dubai’s Awqaf and Minor Affairs Foundation (AMAF) will see dividends from the shares donated used to fund a wide range of charitable causes, and investors can choose which charities receive the funds.

Ali Mohammed AlMutawa, Secretary General of AMAF, said in a press statement: “We are pleased to cooperate with ADX to facilitate donations toward charitable and humanitarian causes.

“The income from the donated financial shares will be invested in various projects supporting education, health, scientific research, medical treatments, empowering orphans, people of determination and other legitimate endowment banks.

“Our foundation’s strategy is to support charitable causes by building effective partnerships with various entities.”