In commemorating the historical event of the Proclamation of His Royal Highness Pengiran Muda Haji Al-Muhtadee Billah as the Royal Highness The Crown Prince on the 17th Rabiulakhir 1419 corresponding to 10th August 1998, His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to the proposal from the Yayasan (Foundation) Sultan Haji Hassanal Bolkiah for a gift (pesembah) with perpetual succession in the form of a Charitable Foundation to be known as "DANA PENGIRAN MUDA MAHKOTA AL-MUHTADEE BILLAH FOR ORPHANS" (DANA).
With the command from His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam, the DANA was established under the Dana Pengiran Muda Mahkota Al-Muhtadee Billah for Orphans Act (Chapter 185).
His Royal Highness Pengiran Muda Mahkota Pengiran Muda Haji Al-Muhtadee Billah ibni Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah has consented to launch the DANA on 4th Jamadilawal 1419 corresponding to 25th August 1998 at the Jerudong Polo Club.
In conjunction with the launching of the DANA, various government agencies and private sectors, financial institutions, business and industry bodies, societies and private individuals has presented their contribution to the DANA before His Royal Highness Pengiran Muda Mahkota Pengiran Muda Haji Al-Muhtadee Billah.