Today's Edition
ABU DHABI (ALETIHAD)
Investors at the Abu Dhabi Securities Exchange (ADX) can endow listed securities to Al Mabarrah International Charitable Association, with the resulting dividends and returns used to support humanitarian programmes.
ADX signed a memorandum of understanding with the Abu Dhabi-based charitable organisation to provide the arrangement through the exchange’s Endowment Shares Service, according to a statement issued by ADX.
The service allows investors to transfer shares in listed securities to support initiatives covering education, healthcare assistance, care for elderly people and orphans, and family-support projects.
ADX will issue a dedicated investor number in the name of Al Mabarrah for the administration of the endowed securities. Dividends generated by the shares will be transferred periodically to the association’s charitable endowment account under the exchange’s approved procedures, a separate statement from the charitable organisation said.
The shares can be retained as endowment assets to generate continuing dividend income. Subject to the investor’s approval, Al Mabarrah will also be able to sell the securities and use the proceeds for eligible charitable initiatives.
Under the agreement, ADX will work with the association to monitor and manage the endowment assets and oversee the transfer of donated securities.
The agreement was signed by Dr Ali Rashid Al Nuaimi, Chairman of the Board of Directors of Al Mabarrah International Charitable Association, and Abdulla Salem Al Nuaimi, Group Chief Executive Officer of ADX Group.
The signing ceremony was attended by Ghannam Butti Al Mazrouei, Chairman of ADX Group, and members of Al Mabarrah’s management team.
“Our partnership with Abu Dhabi Securities Exchange feeds directly into the charitable and humanitarian work of the UAE, work embraced by the leadership of this blessed nation and by its loyal people,” Dr Al Nuaimi said.
“This agreement is about contributing to charitable work, cooperating on humanitarian causes and building that culture with institutions, both governmental and private,” he added.
Al Mazrouei said the partnership combined ADX’s capital-market capabilities with Al Mabarrah’s charitable activities, allowing investors to turn financial returns into longer-term social value.
"Our Endowment Shares Service provides a structured framework for investors to use capital market instruments to support impactful humanitarian causes, ensuring charitable contributions are managed through a robust and efficient model that aligns with leading global practices,” he said.
The agreement will remain in force for three years from the date of signing, and will renew automatically for a similar period under the same terms, the charitable organisation said.
