Abu Dhabi: A member from the UAE's top advisory council on Tuesday accused the General Authority of Islamic Affairs and Endowments of failing to conduct governance and control of the endowment funds.
Mohammad Abdullah Al Za'abi, a representative of the Federal national Council (FNC) from Sharjah, posed a question to Dr Anwar Mohammad Gargash, Minister of State for FNC Affairs, about regulations for endowment funds.
"Reports of the State Audit Institution showed lack of control of endowment funds and the General Authority of Islamic Affairs failed to adopt a clear strategy for the optimal use of endowment funds," Al Za'abi told the House.
He added the authority invested Dh13 million in 2008, but failed to register this in books until last year. "The authority also invested Dh10 million in 2008 for seven months, but the contract was extended without approval until last year."
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, had issued in May a decree regulating the endowment sector's (Waqf) income and expenses in compliance with Sharia laws.
The move reflects the attention the country gives to the endowment sector and its keenness to regulate this sector in compliance with legal and Sharia laws.
Al Za'abi said his question is aimed at finding appropriate mechanisms to preserve charity endowment funds and ensure that they are spent properly and invested in compliance with Sharia regulations.
As per the laws, endowment sources and expenses are determined in line with the laws of the country.
Endowment funds include educational Waqf endowment, Islamic Affairs Waqf, endowment fund for orphans and needy people, health endowment fund, social care fund, charity fund, and family endowment fund.
Al Za'abi spoke of violations of a host of regulations regarding expenses from endowment revenues, saying the General Authority of Islamic Affairs failed to spend endowment revenues in prescribed and specified ways.
The board of the General Authority for Islamic Affairs and Waqf is the only body responsible for issuing orders for cashing endowment funds and monitoring and the process to ensure that the endowment money are spent according to regulations in the law.
