Building upon its role in preserving and developing endowments and enhancing their economic and social impact, the General Authority of Endowments has announced the distribution of rewards to informants who reported unknown endowments, totaling over 9 million riyals, in accordance with the reporting criteria previously established for unknown and lost endowments.
After verifying the reports and completing the necessary procedures, the Authority has successfully safeguarded endowments valued at more than half a billion riyals (assets and cash). The reporting service for unknown endowments aims to revive and fulfill the conditions set by the endowers.
The Authority has enacted several legislations to protect the rights of informants, with the aim of encouraging the public to contribute to the reporting process of unknown endowments. It has utilized its official electronic channels for this purpose and has set a financial reward for informants, not exceeding 5% of the value of the endowment, with a maximum limit of one million riyals.
It is worth noting that the acceptance of reports is subject to meeting the conditions and provisions outlined in the reporting criteria for unknown and lost endowments. This includes submitting the report through the official website, the absence of a trustee for the endowment, and providing the necessary documents to substantiate the existence of the endowment.
The General Authority of Endowments is committed to regulating the endowment sector, preserving it, and enhancing the services provided to beneficiaries. It strives to develop and sustain the sector, ensuring compliance with the endowers' conditions by implementing best practices and proposing regulations and laws that elevate and empower the endowment work. This will maximize its impact and strengthen its role in economic, social, and community development, in line with the objectives of Islamic law and the relevant regulations. The ultimate goal is to fulfill the aspirations of the wise leadership and position the Kingdom as a leader in the non-profit 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.
