Skip to content Skip to Search
Skip navigation

Abu Dhabi to allow investors to donate shares to charity

By Shane McGinley
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.”

Latest articles

Alcohol tax in Dubai was suspended in 2023

Dubai to reintroduce 30% alcohol tax

Dubai will reintroduce the 30 percent sales tax on alcohol in January, according to an email sent by a local alcohol distributor to venues in the city.  The correspondence sent by MMI, which also operates off licences in the city, said: “Please note, Dubai Government have informed us the 30 percent municipality tax on alcoholic […]

The oil market could now shift focus to the actions of US President-elect Donald Trump

Opec+ delays oil output hike until April

Opec+ on Thursday pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026 due to weak demand and booming production outside the group. Cuts had been scheduled to begin unwinding from October 2024 but a slowdown in […]

Animal, Bird, Chicken

Almarai to foray into food segments beyond dairy

Almarai, the largest dairy producer in Saudi Arabia, will launch seafood and red meat facilities to help achieve the Vision 2030 goal of becoming food self-reliant. The company is building domestic production facilities for seafood and beef and lamb, which will become operational in two years, Bloomberg reported, citing CEO Abdullah Albader. In March, Almarai […]

OQBI has offloaded 49% of its shares, with 40% going to retail investors

Oman’s OQBI poised to make Muscat bourse debut

Oman’s OQ Base Industries will debut on Muscat’s bourse on December 15 after the state oil company subsidiary completed a $489 million initial public offering. OQBI, the third OQ unit to float since March 2023, has offloaded 49 percent of its shares. Of the shares sold, 30 percent went to institutions, 40 percent to retail […]