Law No. (10) of 2023 Concerning The Establishment of Endowments And Minors’ Funds Management Authority

Article 1 — In the implementation of the provisions of this Law, the following words and ¶

phrases shall have the meanings corresponding thereto unless the context
requires otherwise:

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State : The United Arab Emirates.
Emirate : The Emirate of Abu Dhabi.
Government : The Government of Abu Dhabi.
Executive
Council
: The Executive Council of the Emirate.
Authority : Endowment and Minors Funds Managment Authority.
Director-
General
: The Director-General of the Authority.
Endowment : To allocate a single benefit or to allocate a benefit while
preserving and keeping the asset itself intact.
Endowment
Institutions
: The non-profit institutions managing and using the endowment
revenues in order to finance the relevant programmes, initiatives
and activities.
Funds : Every property or right having a material value, such as movable
properties, real estates, sukuk or shares, and any other funds
that may be subject to usufruct.
Financial
Guardianship
: The right of disposition of whatever is related to the
funds of minors and the like, as well as the preservation,
management and use thereof.
Minor and
the like
: The person who did not reach the legal age of maturity
according to the applicable legislations, and that includes
person subject to interdiction, the Missing Person, the
absentee and the posthumous child.
Interdict : A person who suffers from one of the symptoms of
incapacity, such as insanity, mental retardeness,
forgetfulness and foolishness, and who is subject to a
legal interdiction.
Absentee : The person whose domicile and his place of residence
are not known.
Missing
Person
: The Missing Person whose life or death is not known.
Posthumous
Child
: The embryo whose father dies before his birth.

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Legal
Guardian
: The person who is appointed by the competent court to
manage the funds and affairs of a minor.
Custodian : The father or paternal grandfather.
Chosen
Guardian
: The person who is selected by the Custodian to assume
the duties of financial guardianship.
Curator : A person who is appointed by the Court to manage the
funds and affairs of the Interdict.
Judicial
Agent
: The person who is appointed by the competent court in
order to manage the funds and affairs of the Absentee or
the Missing Person.

Article 2 — An authority called “Endowment and Minors’ Fund Managment Authority” ¶

shall be established and shall enjoy an independent legal personality and
the full legal capacity to act, and shall be affiliated to the Executive Council.
• The Executive Council may change the affiliation of the Authority , as
deemed adequate.
• The Authority shall replace the Social Care & Minors Affairs Foundation.
Therefore, all assets, rights and obligations of the latter shall be transferred
to the Authority which shall be considered as the legal successor.
• The employees of the Social Care & Minors Affairs Foundation shall be
transferred to the Authority, without prejudice to their financial allowances
and retirement benefits.

Article 3 — The Authority shall be the competent entity to manage all endowment affairs ¶

in the Emirate, according to the applicable legislations.
• The Authority shall take all the necessary procedures to transfer the
management of the endowmentaffairs inside the Emirate, in coordination
with the General Authority of Islamic Affairs and Endowments as well as
the concerned entities.

Article 4 — The main office of the Authority shall be located in Abu Dhabi City. Branches ¶

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and offices may be established inside or outside the Emirate, only after the
approval of the Executive Council.

Article 5 — • The Authority shall carry out the following competencies: ¶

1. Prepare the general policy and strategic plans of the Authority, and
submit them to the Executive Council for approval.
2. Manage, develop, invest and preserve the Funds of the Minor and the
like, whether such Funds are under common or separate ownership,
based on the decision of the competent court and as per the provisions
of the Islamic Sharia and the applicable legislations. For this purpose, it
may assume the following:
a. Request the concerned entities to place a restriction on their Funds
and to prohibit the disposition thereof unless by approval of the
Authority.
b. Compel any parties that seize their Funds to deliver them to the
Authority for management, and issue the necessary decisions to
maintain such Funds.
c. Establish economic projects inside or outside the State using the
best ways and means for safe investment of Funds.
d. Estimate the condition of the real estates owned thereby and
determine the extent of the need for their restoration or demolition
and reconstruction, and may conduct all the necessary legal
dispositions to this effect.
e. Conclude all the contracts related to the investment of the real
estates possessed thereby, purchase the real estates from their
Funds and register them in their name, and invest in said real estates
until the Minor reaches the legal age of maturity.
f. Pay Zakat on their Funds, settle the due debts, and collect their
entitlements from third parties.
3. Supervise the financial dispositions carried out by the Legal Guardians,
Curators and Judicial Agents.
4. Study the challenges that face the Endowments, and manage the Funds
of the Minor and the like, in coordination with the concerned entities.
5. Establish a register for the registration of the data of the Minor and the
like, and the Funds thereof.
6. Enumerate the Endowments of all kinds in the Emirate, and establish

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a register for the registration of data and certificates related to such
Endowments.
7. Supervise, regulate and control the Endowments in the Emirate,
including the work of the Endowments’ Administrators, as well as the
Endowment Institutions.
8. Issue the necessary permits for the Endowment Institutions in the
Emirate in order for them to practice their activities according to the
applicable legislations.
9. Hold or participate in local events, conferences, and seminars related
to the management of Endowments as well as the Funds of Minors and
the like.
10. Spread the Endowment Culture in the Emirate, and encourage the
individuals and institutions to take initiatives in this regard, in a way that
contributes in the establishment of the values of good deeds, giving and
generosity, and promotes the concept of social solidarity among the
community members.
11. Establish or contribute in companies, institutions and funds deemed
necessary for the management and investment of the Endowment’s
Funds, as well as the Funds of Minors and the like inside or outside the
state, according to the applicable legislations.
12. Conclude agreements and memoranda of understanding related to the
competencies of the Authority.
• The Executive Council may amend the Authority’s competencies which
are mentioned in this Law or in any other legislation, by deletion, addition
or transfer.
• The Authority may delegate some of its competencies to any other
government entity or outsource some of them to the private sector upon
the approval of the Executive Council.

Article 6 — The Authority may inquire any entity inside or outside the State about any ¶

data, information or documents related to the Funds of the Minor and
the like or their heirs, and take the necessary measures in this regard, in
coordination with the concerned entities.

Article 7 — • The Authority may have a Chairman who shall be appointed by the Chairman ¶

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of the Executive Council Resolution, and supervise the competencies and
duties of the Authority and the Director-General thereof.
• The Executive Council may assign the Chairman of the Authority to assume
any other competencies or duties.

Article 8 — The Authority shall have a Director-general to be appointed by the Executive ¶

Council Resolution. He shall conduct and supervise the functions of the
Authority, and may in particular assume the following:
1. Propose the strategic and executive plans of the Authority and submit
them for approval in accordance with the applicable legislations.
2. Follow up on the implementation of the Authority's strategic and
executive plans, as well as the programs and projects which are
managed or executed thereby.
3. Manage, develop and carry out all the strategic and executive tasks
assigned to the Authority, either directly or through work teams
appointed thereby or assigned to carry out certain tasks, in a manner
that does not conflict with the legislations in force.
4. Propose initiatives, programs, projects, studies and recommendations
related to the functions and activities of the Authority, and submit them
for approval according to the relevant procedures.
5. Propose the draft annual budget of the Authority, and submit it for
approval, in accordance with the legislations in force.
6. Propose the Organisational Structure of the Authority and submit it for
approval, in accordance with the legislations in force.
7. Appoint experts, consultants and technicians on a temporary or
permanent basis, and specify their fees, and seek the assistance of
experts, institutions and consulting offices he deems appropriate.
8. Open bank accounts in the name of the Authority, the Minor and the like
or the Endowment, according to the legislations in force.
9. Form internal committees and working teams from among and the
Authority's employees and from outside the Authority, and determine
their duties and work procedures.
10. Propose the legislations, organisational and executive regulations,
as well as the rules, policies, resolutions, and circulars related to the
competencies of the Authority, and submit them for approval, according
to the legislations in force.

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11. Propose the fees, tariffs, and costs related to the competencies of the
Authority, and submit them for approval according to the legislations in
force.
12. Represent the Authority before the courts and third parties, including
the representation of the Endowments which are administered by the
Authority, as well as the Minor and the like whose Funds are managed
and invested by the Authority.
13. Any other competencies or tasks assigned thereto by the Executive
Council.
• The Director-General may delegate some of his competencies to any
senior employee of the Authority, provided that such delegation is made
in writing.
• The Executive Council may delegate any of the competencies of the
Director-General to any committee or work team formed from among the
Authority’s employees or from outside the Authority.

Article 9 — • The Authority may have a Board of Trustees consisting of five members at ¶

least including the Chairman of the Board of Trustees. Said members shall
be appointed by an Executive Council Resolution.
• The Board of Trustees shall provide advice and counselling to the Authority
when it comes to all or some of its competencies, and shall present
recommendations and proposals thereto concerning the plans, programs,
projects and activities supervised, managed or executed thereby.
• The Board of Trustees shall hold its meetings as per the rules and
regulations approved by the Chairman of the Board of Trustees.
• The Executive Council or whoever is delegated thereby may assign the
Board of Trustees to follow up on the activities of the Director-General in
case the work interest so requires.

Article 10 — 1. A committee called “Investment Committee” shall be formed of at least ¶

five members who are not employees of the Authority but experts in
the field of investment. They shall be appointed and the remuneration
thereof shall be determined by a resolution of the Board of Trustees, or
the Director-General should the Board of Trustees be absent.
2. The term of the Committee shall be three years that may be renewed

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once.
3. The Committee shall issue its internal regulations containing the
procedures related to holding its meetings, as well as the legal quorum
of its meetings and the voting mechanism on its resolutions, and the
manner of taking its resolutions by circulation in cases of necessity.
4. The Committee shall assume the following competencies:
• Study and take decisions concerning the investment in the Funds of
Minors and the like, according to the provisions of this Law, and so
in relation to the disposition of their Funds through sale, purchase,
exchange, partnership or mortgage or any other disposition that leads
to the transfer of ownership or that results in a real right - whenever
necessary - as deemed adequate to their interest.
• Study and take the decisions related to the management and investment
of the Endowment Funds and the increase of their revenues, as per the
best methods adopted thereby, according to the legislations in force.

Article 11 — • The following conditions shall be met in order for the Authority to manage ¶

the Funds of the Minors and the like:
1. The Minor and the like shall be a National of the Emirate.
2. The Funds subject-matter of management are manageable and suitable
for development.
3. Absence of the Custodian or the Chosen Guardian, unless the
guardianship was abandoned, revoked, suspended or restricted.
4. Issuance of a decision from the competent court.
• The Executive Council may add or amend the conditions mentioned in this
Article.

Article 12 — The Executor of an Estate shall, in case there is a Minor or the like among ¶

the heirs, assume the following:
1. Provide the Authority with certified copies of the reports of deposit of
money, securities and valuables in the Treasury of the competent Court,
until settlement of the succession.
2. Provide the Authority with a periodic statement about the inheritance
administration.
3. Submit to the Authority a list including the rights and debts related to the

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inheritance, and assess the value of said rights and debts within 90 days
from the date of his appointment or throughout any additional period
determined by the Court.
4. Inform the Authority about the payment of the debts which have not been
subject to dispute.
5. Submit to the Authority the share of the Minor and the like, following the
partitioning process by agreement or by a court decision, in case the
interest thereof so requires.
6. Inform the Authority of all the procedures initiated thereby.

Article 13 — • The concerned persons and entities shall inform the Authority about the ¶

cases of death, incompetence, lack of capacity, delivery of the Posthumous
Child, and other cases stipulated in this law, as per the controls issued by
the Authority.
• No heirs or partners in the Funds of a deceased with Minor or the like may
dispose of such Funds within a duration that does not exceed 30 days from
the date of death. Any disposition deemed contrary to or inconsistent with
the provisions of this Article shall be considered void unless it is carried
out based on the approval of the Authority.

Article 14 — • In case the Funds of the Minor and the like are at risk due to the misconduct ¶

of the Legal Guardian, the Curator or the Judicial Agent, or for any other
reason, then the Authority may have recourse to the Competent Court in
order to request the deprivation or limitation of his powers or his removal.
• Whomever is subject to a judgment of removal shall deliver the Funds of
the Minor and the like to the Authority, as well as all relevant documents,
and a statement of the Funds’ management conducted thereby, within 30
days from the date of the judgment of removal. The Authority shall have
the right to issue the adequate resolutions to preserve such Funds.

Article 15 — The Financial Guardianship of the Authority over the Minor and the like shall ¶

end for any of the following reasons:
1. In case the minor reaches the legal age of maturity.
2. In case of death of the Minor and the like.

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3. In case of lifting the interdiction, or restoring the guardianship, or in case
the Absentee or the Missing Person returns, based on a decision of the
Competent Court.
4. Issuance of a decision from the Competent Court.
5. Any other reasons according to the legislations in force.

Article 16 — • The Authority shall deliver the Funds to the concerned parties after the ¶

end of its term, and in case said parties fail to receive such Funds without a
reason that is acceptable by the Authority, then the latter shall request the
Competent Court to appoint a judicial trustee to be in charge of receiving
and managing the Funds.
• The Authority may, by a resolution of the Director-General, get a percentage
that does not exceed (5%) of the net value of the income resulting from
continuing to manage the Funds, from the end of its term until the date
of effective delivery of the Funds to the judicial trustee or the concerned
persons. The Executive Council may amend said percentage.
• The procedures for delivering said Funds shall be determined in a resolution
issued by the Director-General.
• The Authority may set a register for the judicial trustees and Curators who
meet the requirements and qualifications of registration in the Register,
which are determined in a resolution issued by the Director-General.
• The Competent Court may request the Authority to nominate, from the
approved registers aforesaid in the previous paragraph, a judicial trustee
or a Curator, as the case may be.

Article 17 — • Any concerned party may file a grievance against the resolutions issued ¶

by the Authority within (15) days from the date of receiving notification
thereof. The grievance shall be settled within (30) days from the date of its
submittal. Failure to decide upon it during this period shall be considered
as a rejection of the grievance.
• The procedures and mechanism for filing grievances, as well as the
controls of deciding thereon shall be determined by a resolution of the
Director-General.

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Article 18 — • The judicial lawsuits which are filed by the Authority, as well as the ¶

judicial claims submitted thereby, shall be considered and determined
expeditiously, and the Court may, in all cases, issue a judgement that shall
be immediately enforceable without bail.
• The lawsuit, objection or claim filed or submitted by any person whose
Funds are maintained by the Authority may not be heard after the lapse of
three years from the date of receiving such Funds.
• The claims or lawsuits submitted to the competent court concerning the
Funds of Minors and the like falling under Financial Guardianship of the
Authority may not be accepted unless after submitting the claim to the
Authority. The latter shall commit to respond to the claimant within 15
days from the date of its submittal, and the concerned persons may have
recourse to the competent court should the claim be rejected or in case
of the lapse of such duration without a response from the Authority.
• The Authority shall be requested to intervene in the lawsuits aforesaid in
the previous paragraph, and may request to intervene in these cases on
its own.

Article 19 — The Authority’s officials or employees, their spouses or relatives up to the ¶

fourth degree are not allowed to purchase, exchange or rent any funds
managed and invested by the Authority, nor to sell or rent an asset that is
owned thereby to an endowmentthat is administered by the Authority or to
a Minor or the like, whether directly or indirectly. Any disposition deemed
contrary to this Article shall be deemed void.

Article 20 — The Authority may obtain Sharia related advice (fatwas) related to the funds ¶

managed thereby from the competent entities in the State.

Article 21 — The Authority shall submit to the Executive Council or whoever is delegated ¶

thereby, every three months or whenever requested, a report on its activities
and achievements, as well as its budget and financial and administrative

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affairs, and the stages of progress achieved in carrying out the competencies
and duties entrusted thereto.

Article 22 — The financial resources of the Authority shall consist of the following: ¶

• The annual appropriations allocated thereto by the Government.
• Any other resources achieved by the Authority from the exercise of its
activities.
• Donations and contributions granted thereto following the approval of the
Executive Council.
• Any other revenues approved by the Executive Council.

Article 23 — The fiscal year of the Academy shall start on the first of January and end on ¶

the 31st of December of each year, except for the first year which shall start
from the effective date of this Law and end on the last day of December of
the following year.

Article 24 — The Authority shall have one or more external certified auditors for the purpose ¶

of auditing the financial statements and the Funds managed and invested
thereby. They shall be appointed by a resolution of the Director-General
determining as well their remuneration, as per the legislationsapplicable in
the Emirate.

Article 25 — • The Authority shall be subject to the financial laws and regulations ¶

applicable in the Emirate.
• The employees of the Authority shall be subject to the Human Resources
laws and regulations applicable in the Emirate.
• The nationals among them shall be subject to the Law of Civil Retirement
Pensions and Benefits in the Emirate.

Article 26 — • The Director-General shall issue the organisational and executive ¶

regulations deemed necessary for this Law, following approval of the

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Executive Council.
• The Director-General shall issue the policies, resolutions and executive
and operational circulars deemed necessary for the execution of the
provisions of this Law.
• The applicable policies, regulations, resolutions, and circulars shall remain
effective to the extent that they are not contrary to the present Law, until
the issuance of the policies, regulations, rules, resolutions and circulars
required for the implementation of its provisions.

Article 27 — Aforesaid Law No. (19) of 2009 shall be repealed. ¶

Any provision contrary to the provisions of this Law shall be repealed.

Article 28 — This Law shall become effective from the date of its issuance and published ¶

in the Official Gazette.
Mohamed bin Zayed Al Nahyan
Ruler of Abu Dhabi
Issued by us in Abu Dhabi
Date: 24 April 2023
Corresponding to: 4 Shawwal 1444 Hijri

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