Awqaf Dubai Registers Emirate’s First Family Business Endowment as INDEX Holding Adopts Waqf Dhurri Model for Long-Term Sustainability
Dubai has reached a significant milestone with the announcement from the Endowment and Minors’ Trust Foundation (Awqaf Dubai) regarding the registration of the first family endowment, known as Waqf Dhurri, specifically designed for family businesses. This initiative underscores the emirate’s commitment to fostering a sustainable economic ecosystem and enhancing the longevity of family-owned enterprises, which are pivotal to economic growth and long-term development.
A New Era for Family Businesses
Awqaf Dubai articulated that this achievement aligns with the broader vision of Dubai to create an economic framework that is responsive to global economic trends. The introduction of innovative tools aims to ensure the sustainability of family businesses, reinforcing their role as vital contributors to economic progress.
His Excellency Prof. Abdulsalam AlMadani, Chairman of INDEX Holding, has registered the ‘INDEX Holding’ group of companies as the inaugural family endowment for family businesses in Dubai. This initiative represents a transformative shift in the concept of endowment (Waqf), moving from traditional frameworks to a modern institutional model that prioritizes asset protection, sustainability, and maximizing both economic and societal impacts.
Structure and Governance of the Endowment
The newly established family endowment encompasses provisions for the endower and their family, alongside the designation of the Abdulsalam AlMadani Global Education Center (AGEC) and its associated assets, including current and future intellectual and industrial property rights. Additionally, the Abdulsalam AlMadani Humanitarian Care and Charity Foundation (DIHAD Sustainable Organisation) has been designated as a charitable endowment.
According to the terms outlined in the deed, the endower will manage the endowment during their lifetime. Following this period, the management and succession will adhere to the regulations set forth by the family endowment system, which governs the appointment of supervisors, the distribution of returns, and the core terms of the endowment, ensuring its sustainability and the achievement of its objectives.
Awqaf Dubai confirmed that the endowment will operate under its supervision in accordance with Law No. (17) of 2022. This framework ensures sound governance and sustainability, highlighting the advanced regulatory environment for institutional endowments within the emirate.
Implications for National Business Stability
His Excellency Ali Al Mutawa, Secretary-General of Awqaf Dubai, emphasized that the registration of the family endowment marks a pivotal moment in the institutional endowment system. He noted that such endowments play a crucial role in preserving businesses across generations and bolstering the stability and growth of national enterprises.
The endowment model provides a comprehensive framework for family asset governance, effectively balancing financial sustainability with social impact. It offers families and entrepreneurs flexible tools for seamless and sustainable wealth succession.
Al Mutawa stated, “We are committed to innovating endowment solutions in line with international best practices, supporting Dubai’s leadership in endowments and maximizing its contribution to comprehensive development.”
Redefining Family Business Roles
Prof. AlMadani remarked that this initiative redefines the role of family businesses within the national economy. The establishment of an integrated system aims to ensure the continuity of the values and vision upon which these companies were founded, transitioning them into an institutional model designed for long-term growth.
He further noted, “The real challenge is growing assets without losing their essence. Hence, this endowment serves as a framework to protect companies, ensuring they are future-ready and deeply committed to the national economy.”
AlMadani highlighted that Dubai now exemplifies an advanced model in family asset management, merging governance with social responsibility. This reflects a clear vision for family businesses to serve as both an economic force and a significant humanitarian influence.
Growing Adoption of Family Endowments
Awqaf Dubai also reported that the total value of family endowments registered has reached approximately AED 4.8 billion by the end of 2025, spread across 251 family endowments. This statistic underscores the increasing adoption of the endowment model and its crucial role in the sustainability of family assets.
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Published on 2026-05-13 21:35:00 • By the Editorial Desk
