Dubai Endowments Cover 700 Minors
The Endowment Foundation in Dubai announced that approximately 700 minors out of 1,500 whose funds they oversee are now covered under the provisions of Civil Transactions Law No. 25 of 2025, which came into effect in June 2026. The law stipulates reducing the age of legal maturity from 21 Hijri years to 18 Gregorian years, with the aim of empowering youth to exercise their legal rights and achieve financial independence, as well as enhancing their participation in economic and social life. The current value of the minors' assets under management is around 300 million dirhams, with a commitment to continuing to manage their assets efficiently and with low-risk investment policies to ensure the growth and protection of the funds. The law aims to modernize the UAE's legislative framework and achieve alignment with international standards, reflecting the country's vision of building generations capable of bearing responsibility.
Notice: This Is an AI-Generated Summary
Comments (0)