New Amaf board of directors appointed
Dubai, March 12, 2012
Sheikh Hamdan Bin Mohammed Bin Rashid Al-Maktoum, Crown Prince of Dubai and chairman of Dubai Executive Council, has appointed a new board of directors for Awqaf and Minors Affairs Foundation (Amaf), mandated to supervise Awqaf and the well-being of minors.
Following the restructuring of the board, the directors held their first meeting today led by Hussain Ahmad Al Qemzi, the chairman of Amaf, and attended by Tayeb Al Rais, the general secretary, and Khaled Al Thani, deputy general secretary.
During the meeting, Saleh Said Lootah was voted deputy chairman and an additional three committees were instituted and directors elected to lead the respective mandates.
Abdullah Mohammed Ghabbash was named head of the investment committee which will approve feasibility studies on investments and select projects that help drive the foundation’s multi-pronged objectives, a statement from Amaf said.
Under Arif Abdullah Al Harmi, the risk management and auditing committee has been tasked to ensure the effective compliance of internal auditing regulations. It will also review financial reports prior to their submission to the board of directors.
In addition to his role as chairman of the board, Al Qemzi will lead the governance committee that has been envisioned to draw up a standard operating procedure (SOP) and provide an improved regulatory framework for Amaf. The body will also issue periodic reports on Amaf’s progress and monitor its governance transactions.
The newly instituted board also includes Abdullah Ali Al Hamli, Betti Bin Darweesh Al Flasy and Sanaa Mohammad Suhail.
Since its inception in September 2007, the Awqaf and Minors Affairs Foundation continue to manage and invest funds through an Islamic perspective in full Sharia compliance, in addition to overseeing the care and empowerment of minors. – TradeArabia News Service