Continuous efforts: The General Authority for Awqaf conducts 5,900 oversight operations on endowments

In a step that underscores the General Authority for Awqaf's commitment to preserving endowments, implementing the conditions set by donors, and ensuring that the proceeds reach the rightful beneficiaries, the Authority has initiated a series of supervisory visits to endowments. The aim is to assess practices, enhance compliance with regulations, address observations, and protect against unlawful exploitation. This initiative aligns with the Kingdom’s Vision 2030, which seeks to enhance the effectiveness of the endowment sector in achieving comprehensive development and enabling it according to the donors' conditions, while taking necessary measures to develop endowment work.

These visits aim to empower endowment overseers and increase their efficiency in fulfilling their duties, contributing to achieving the objectives for which the endowment was established, and ensuring adherence to the conditions of donors and relevant regulations.

Thanks to these continuous efforts, the General Authority for Awqaf is achieving notable accomplishments in organizing and governing the endowment sector, ensuring its sustainability, maximizing its impact, and developing the regulatory environment for the sector.

These visits have yielded tangible results by uncovering numerous violations and encouraging overseers to take necessary corrective actions, thereby enhancing endowment efficiency. In the first half of 2024, the Authority conducted over 158 desk inspections, developed 300 comprehensive corrective action plans to address violations, issued 400 reports for the Mubeen platform, received 420 incoming reports, and assessed risks for approximately 1,500 endowments, along with 3,122 data and financial statement submissions.

It is noteworthy that the General Authority for Awqaf reaffirms its commitment to protecting and developing endowments through continuous oversight campaigns and the development of monitoring systems. Through these efforts, the Authority aims to build a promising future for endowments, enhance the governance of the endowment sector, preserve and develop it, and raise awareness by launching innovative endowment products and services for beneficiaries. The goal is to be a leader in sustainable development both locally and globally, in line with the conditions of donors, implementing best practices, and establishing systems and regulations that elevate and develop endowment work, enabling it to maximize its impact on economic and social development and social solidarity.