Business
Awqaf Dubai registers emirate’s first family business endowment as INDEX Holding adopts Waqf Dhurri model
Move positions endowment framework as a tool for long-term family business sustainability and social impact in Dubai
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 endowment for family businesses in Dubai'. The initiative is described as a first-of-its-kind at the emirate level, reflecting a qualitative shift in the concept of endowment (Waqf) from its traditional framework to a modern institutional model. The model places strong emphasis on asset protection, sustainability, and maximising economic and societal impact.
Dubai: The Endowment and Minors’ Trust Foundation in Dubai (Awqaf Dubai) has announced the registration of the 'first family endowment (Waqf Dhurri) for family businesses in Dubai', marking a milestone that reflects the emirate’s vision for developing a sustainable economic ecosystem and enhancing the sustainability of family-owned businesses, which are recognised as critical contributors to economic growth and long-term development.
Awqaf Dubai said the achievement aligns with Dubai’s vision to build an economic ecosystem designed to adapt to global economic trends by providing innovative tools that ensure the longevity of family businesses and strengthen their role as partners in economic growth.
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 endowment for family businesses in Dubai'. The initiative is described as a first-of-its-kind at the emirate level, reflecting a qualitative shift in the concept of endowment (Waqf) from its traditional framework to a modern institutional model. The model places strong emphasis on asset protection, sustainability, and maximising economic and societal impact.
The initiative includes designating a 'family endowment' for the endower and his family, alongside the designation of the 'Abdulsalam AlMadani Global Education Center (AGEC)' and its associated assets — along with current and future intellectual and industrial property rights — and the 'Abdulsalam AlMadani Humanitarian Care and Charity Foundation (DIHAD Sustainable Organisation)' as a charitable endowment.
According to the deed, the endower will manage the endowment during his lifetime. Succession and management will then follow the family endowment system’s regulations, governing the appointment of supervisors, the distribution of returns, and the endowment’s core terms, while ensuring sustainability and fulfilment of objectives.
Awqaf Dubai stated that the endowment remains under its supervision in accordance with 'Law No. (17) of 2022', ensuring sound governance and sustainability and underscoring the advanced regulatory environment for institutional endowments in the emirate.
His Excellency Ali Al Mutawa, Secretary-General of Awqaf Dubai, said registering the family endowment represents a milestone in the institutional endowment system, noting that family endowments help preserve companies across generations and support the stability and growth of national businesses.
Integrated framework for governance and succession
His Excellency Al Mutawa said the endowment model provides an integrated framework for family asset governance, balancing financial sustainability with social impact, and gives families and entrepreneurs flexible tools for seamless and sustainable wealth succession.
He added: “We are committed to innovating endowment solutions in line with international best practices, supporting Dubai’s leadership in endowments and maximising its contribution to comprehensive development.”
His Excellency AlMadani said: “This step redefines the role of family businesses in the national economy. We are building an integrated system that ensures the continuity of the values and vision upon which these companies were established, transforming them into an institutional model built for long-term growth.”
He added: “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.”
He noted: “Dubai today presents an advanced model in family asset management, combining governance and social responsibility. It reflects a clear vision for family businesses to be an economic force and a deep-rooted humanitarian influence.”
Awqaf Dubai also reported that the total value of family endowments registered reached approximately AED 4.8 billion by the end of 2025, distributed across 251 family endowments, highlighting the rising adoption of the model and its role in the sustainability of family assets.