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As part of the joint cooperation with the General Authority for Statistics, the General Authority for Endowments has activated a new economic activity under the name "Endowment Management" within the national classification of economic activities based on the International Standard Industrial Classification (ISIC 4) to enhance and empower the role of endowments, organize their affairs, integrate them into the economic and developmental system, and issue a unified national classification for endowment entities under a recognized and specialized activity in endowment management, representing the prestigious identity of endowments.
The activation of this new economic activity under the prestigious identity of endowments aims to expand the base of economic activities in the endowment sector, unify the classification of endowments among relevant government entities, enhance business facilitation for endowments with the public and private sectors, and monitor their economic and developmental impact. This is in line with the Kingdom's Vision 2030, updating and developing systems to meet the present and future needs, and improving the governance of the endowment sector.
It is worth mentioning that the General Authority for Endowments works on regulating and preserving the endowment sector, developing endowment services provided to beneficiaries, and working on the sector's development and sustainability. This is achieved by implementing best practices, proposing regulations and regulations that enhance and develop endowment work, maximize its impact, and enhance its role in economic, social, and social solidarity development, in accordance with the objectives of Islamic law and applicable regulations. This is to achieve the aspirations of the wise leadership in making the Kingdom a leader in the nonprofit sector.
Under the chairmanship of His Excellency the Minister of Finance, the Board of Directors of the General Authority of Endowments held its thirtieth meeting
Minister of Finance, Chairman of the General Authority of Endowments, His Excellency Mr. Mohammed bin Abdullah Al-Jadaan, chaired the thirtieth meeting of the Board of Directors of the General Authority of Endowments on Wednesday, 10th of Ramadan, 1445 AH.
The General Authority for Endowments has recovered one billion and five hundred million Saudi riyals for a number of endowments and has protected assets worth one hundred billion riyals.
In line with the strategic role of the General Authority for Endowments in developing systems and governance in the endowment sector to be more flexible and suitable for current and future needs, and to enhance oversight and transparency, and with the expiration of the deadline for settling the s
The General Authority of Awqaf has signed a memorandum of understanding to establish and launch the largest endowment investment portfolio worth one billion riyals with the Abdullah Al-Othaim and Sons Charitable Foundation.
The Governor of the General Authority of Awqaf, Mr. Emad Al-Kharashi, has signed a memorandum of understanding with the Chairman of the Board of Trustees of the Abdullah Bin Saleh Al-Othaim and Sons Charitable Foundation, Mr.
To ensure the facilitation of immediate registration for endowments, the completion of electronic integration between the Ministry of Justice and the "Awqaf" is required
The Ministry of Justice and the General Authority for Endowments have completed the integration of systems related to endowment deeds in an important step to facilitate and improve the experience of endowment registration procedures.
