{"id":1454,"date":"2017-11-13T09:04:57","date_gmt":"2017-11-13T09:04:57","guid":{"rendered":"http:\/\/www.alowais.com\/?page_id=1454"},"modified":"2026-08-27T11:06:07","modified_gmt":"2026-08-27T07:06:07","slug":"articles-of-association","status":"publish","type":"page","link":"https:\/\/www.alowais.com\/en\/articles-of-association\/","title":{"rendered":"Articles of Association"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1454\" class=\"elementor elementor-1454\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3ae87cfc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3ae87cfc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6c89a01\" data-id=\"6c89a01\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f0449a3 elementor-widget elementor-widget-text-editor\" data-id=\"1f0449a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Decree No. (4) of 1994<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Founding the Sultan Bin Ali Al Owais Cultural Foundation<\/strong><\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>We, Maktoum bin Rashid Al Maktoum, Ruler of Dubai,<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Having reviewed the <strong>Founding Document<\/strong> of the <strong>Sultan Bin Ali Al Owais Cultural Foundation<\/strong>, dated <strong>9 March 1994<\/strong>, duly <strong>notarized by a Notary Public in Dubai<\/strong> on the same date, and <strong>signed by Mr. Sultan Bin Ali Al Owais<\/strong>, a <strong>citizen of the United Arab Emirates<\/strong>, residing in <strong>Dubai<\/strong>, and <strong>attached hereto<\/strong>.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">And upon the <strong>request submitted by Mr. Sultan Bin Ali Al Owais<\/strong> to establish this Foundation and <strong>grant it legal personality<\/strong> by a <strong>decree issued by us<\/strong>.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>We hereby decree as follows:<\/strong><\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (1): Definitions<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">For the purposes of this Decree, and unless the context otherwise requires, the following words and expressions shall have the meanings assigned to each of them:<\/span><\/p><ul style=\"text-align: justify;\"><li><span style=\"font-size: 14pt;\"><strong>The Ruler:<\/strong> His Highness the Ruler of Dubai.<\/span><\/li><li><span style=\"font-size: 14pt;\"><strong>The Founding Document:<\/strong> The Founding Document of the Sultan Bin Ali Al Owais Cultural Foundation.<\/span><\/li><li><span style=\"font-size: 14pt;\"><strong>The Foundation:<\/strong> The Sultan Bin Ali Al Owais Cultural Foundation.<\/span><\/li><li><span style=\"font-size: 14pt;\"><strong>The Economic Department:<\/strong> The Department of Economic Development in Dubai.<\/span><\/li><\/ul><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (2)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Pursuant to this Decree, and in accordance with the attached Founding Document, there shall be established a private foundation under the name \u201cSultan Bin Ali Al Owais Cultural Foundation.\u201d<\/span><br \/><span style=\"font-size: 14pt;\">The Foundation shall possess independent legal personality and shall enjoy full legal capacity to undertake actions and enter into obligations within the scope of its objectives and the provisions of this Decree.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (3)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation\u2019s <strong>headquarters <\/strong>and principal place of business of the Foundation shall be located in the Emirate of Dubai.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (4)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The objectives of the Foundation shall be:<\/span><br \/><span style=\"font-size: 14pt;\">to periodically grant awards to Arab scholars, writers, and intellectuals through an award known as the \u201cSultan Bin Ali Al Owais Cultural Award,\u201d and to support and encourage such other activities as may contribute to achieving this purpose.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (5)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The capital of the Foundation shall comprise ten thousand (10,000) shares of the National Bank of Dubai, eight thousand (8,000) shares of the Emirates Telecommunications Corporation within the United Arab Emirates, and one United States Government bond, in accordance with the details set out in the Founding Document.<\/span><br \/><span style=\"font-size: 14pt;\">The total value of these shares and the said bond, as of the date of issuance of this Decree and based on their prevailing market price, amounts to twenty-five million dirhams (AED 25,000,000).<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (6)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation may accept donations, endowments, grants, gifts, and bequests.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (7)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation shall be organized and administered in accordance with the provisions of this Decree and those of the Founding Document.<\/span><br \/><span style=\"font-size: 14pt;\">Any amendments thereto shall be made in accordance with the principles prescribed in the said Document.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (8)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">As of the date of issuance of this Decree, Mr. Sultan Bin Ali Al Owais, or his heirs, shall have no right to revoke the establishment of the Foundation, cancel or amend its Founding Document, or interfere with the Foundation\u2019s assets in any manner or for any reason whatsoever, and at any time.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (9)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>(A)<\/strong> The Foundation shall be supervised by a Board of Trustees composed of no fewer than seven (7) and no more than fifteen (15) members of recognized competence and integrity, of whom not less than two-thirds shall be citizens of the United Arab Emirates.<\/span><br \/><span style=\"font-size: 14pt;\">The term of membership on the Board shall be unlimited.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>(B)<\/strong> The first Board of Trustees, as set forth in the Founding Document, shall consist of the following members:<\/span><\/p><ol style=\"text-align: justify;\"><li><span style=\"font-size: 14pt;\">Omran Bin Salem Al Owais<\/span><\/li><li><span style=\"font-size: 14pt;\">Taryam Omran Taryam<\/span><\/li><li><span style=\"font-size: 14pt;\">Abdul Ghaffar Ghuloum Hussain<\/span><\/li><li><span style=\"font-size: 14pt;\">Mohammed Khalifa Bin Hazer<\/span><\/li><li><span style=\"font-size: 14pt;\">Khalifa Mohammed Bakhit<\/span><\/li><li><span style=\"font-size: 14pt;\">Abdul Rahman Bin Mohammed Al Owais<\/span><\/li><li><span style=\"font-size: 14pt;\">Anwar Mohammed Gargash<\/span><\/li><li><span style=\"font-size: 14pt;\">Mohammed Abdullah Al Mutawa<\/span><\/li><li><span style=\"font-size: 14pt;\">Sulaiman Musa Al Jassim<\/span><\/li><li><span style=\"font-size: 14pt;\">Abdul Hamid Ahmed Abdul Hamid<\/span><\/li><li><span style=\"font-size: 14pt;\">Nasser Hussain Al Aboudi<\/span><\/li><\/ol><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>(C)<\/strong> In the event that it becomes impossible to constitute the Board at any time, or for any reason, in accordance with the provisions of the Founding Document, or if the number of members falls below seven (7), the Board shall be reconstituted or its membership completed by a Decree issued by the Ruler.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (10)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">If the funds of the Foundation are utilized in a manner inconsistent with its purposes, or if the Founder intends to do so, or if serious irregularities are committed in the management of the Foundation contrary to the provisions of the Founding Document, the Ruler may dissolve the Board of Trustees and appoint a new Board by Decree.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (11)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Board of Trustees may amend the provisions of the Founding Document, except those relating to the name, headquarters, objectives, or capital of the Foundation.<\/span><br \/><span style=\"font-size: 14pt;\">Such amendment shall be effected in accordance with the procedures prescribed in the Founding Document and shall be filed with the Department of Economic Development.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (12)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation may not replace any of its movable or immovable assets, or any part thereof, unless such replacement is in the interest of the Foundation, and provided that the replacement is approved by a resolution of the Board of Trustees adopted by a three-quarters majority of its members.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (13)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation shall be exempt from all taxes, fees, and duties, whether governmental, municipal, customs, or otherwise.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (14)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation shall be registered with the Department of Economic Development, and shall commence its operations as of the date of such registration.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (15)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">At the beginning of each fiscal year, the Foundation shall submit to the Department of Economic Development a list of the members of its Board of Trustees, together with a copy of its annual report and audited financial statements certified by a licensed auditor.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (16)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The Foundation shall be dissolved and liquidated only if it becomes impossible for it to operate due to insufficient or non-existent capital, thereby preventing the achievement of its objectives.<\/span><br \/><span style=\"font-size: 14pt;\">It may not be dissolved or liquidated for any other reason.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (17)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Subject to the provisions of the preceding Article, the Foundation shall not be dissolved or liquidated except by a Decree issued by the Ruler.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (18)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Subject to the provisions of Articles (16) and (17) above, in the event of the liquidation of the Foundation, the Government of Dubai shall determine the disposition of the remaining funds in a manner most consistent with the objectives for which the Foundation was originally established.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Article (19)<\/strong><\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">This Decree shall come into force on the date of its issuance and shall be published in the Official Gazette.<\/span><\/p><p style=\"text-align: justify;\">\u00a0<\/p><p style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong>Maktoum Bin Rashid Al Maktoum<\/strong><\/span><br \/><span style=\"font-size: 14pt;\"><strong>Ruler of Dubai<\/strong><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c90060 elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-text-editor\" data-id=\"1c90060\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><u>Article 6<\/u><\/p><p>The Foundation can accept contributions through endowments, grants, donations, and wills.<\/p><p>\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Decree No. (4) of 1994 Founding the Sultan Bin Ali Al Owais Cultural Foundation We, Maktoum bin Rashid Al Maktoum, Ruler of Dubai, Having reviewed the Founding Document of the Sultan Bin Ali Al Owais Cultural Foundation, dated 9 March 1994, duly notarized by a Notary Public in Dubai on the same date, and signed [&hellip;]<\/p>\n<div style='clear:both'><\/div><div  class='the_champ_sharing_container the_champ_horizontal_sharing' data-super-socializer-href=\"https:\/\/www.alowais.com\/en\/articles-of-association\/\"><div class='the_champ_sharing_title' style=\"font-weight:bold\" ><\/div><div class=\"the_champ_sharing_ul\"><a aria-label=\"X\" class=\"the_champ_button_x\" 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