By Staff Reporter
Dubai has officially registered its first-ever family business endowment under the emirate’s new institutional Waqf framework, marking a major development in long-term business succession and wealth preservation.
The initiative was launched by Prof. Abdulsalam AlMadani, who registered the INDEX Holding and its regional and international operations as Dubai’s first family business endowment, also known as Waqf Dhurri.
The registration includes the Abdulsalam AlMadani Global Education Center, together with its intellectual and industrial property rights, as well as the Abdulsalam AlMadani Humanitarian Care and Charity Foundation, which has been designated as a charitable endowment.
Under the framework, Prof. AlMadani will oversee management of the endowment during his lifetime. Future governance, succession planning, return distribution and sustainability mechanisms will later be administered according to the family endowment system established under Dubai law.
The endowment will operate under the supervision of Awqaf Dubai in line with Law No. 17 of 2022, which regulates institutional endowments and strengthens governance standards across the sector.
Ali Al Mutawa described the registration as a milestone for Dubai’s evolving endowment ecosystem, saying family endowments play a critical role in preserving businesses across generations while supporting economic stability.
Prof. AlMadani said the model introduces a more structured approach to family business continuity, protecting company values while positioning businesses for sustainable long-term growth.
The move comes amid rising adoption of family endowments across Dubai. By the end of 2025, the total value of registered family endowments in the emirate had reached approximately AED 4.8 billion across 251 registered endowments, reflecting growing confidence in Waqf-based succession and asset protection models.
Source: Dubai Media Office
