It is important to note that the department deducts an amount from endowment revenues, allocated for reconstruction. The deduction rate varies between 10% and 50%, depending on the endowment's construction condition.
The Endowment Law in Sharjah is the first law in the UAE to allocate for the reconstruction of the endowment and specify the percentage to be deducted. As stated in Article 34 of Law No. 8 of 2018 regarding endowments in the Emirate of Sharjah and its explanatory memorandum, "The superintendent shall withhold every year an amount of the net proceeds whose value is not less than 10% and not more than 50%, which shall be allocated for the construction and reconstruction of the endowment according to its constructional condition and in a way that guarantees its continuity. It shall be deposited in the department's treasury in the endowment's name if it is supervising it. Otherwise, the superintendent shall deposit it in one of the Islamic banks under the supervision of the court."
Sharjah Awqaf's initiative is an innovation and a step forward in preserving the endowment, ensuring its permanence and continuation, working on it, collecting revenues for the deserving, and continuing the wage and reward for the donor.
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