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Regulation to revitalize inactive endowments
The article focused on the list issued by the General Authority for Endowments regarding the revival of unknown and inactive endowments. This list includes 30 legal provisions to regulate the handling of endowments that have ceased or faced management difficulties, with the aim of transforming them into sustainable development projects that achieve the goals of the donors and support the non-profit economy. The regulation defines concepts such as unknown and inactive endowments, grants a grace period of one year—extendable for another—to correct the status of these endowments, and authorizes the Authority to intervene directly through various investment options if reforms are not implemented within the deadline. It also allows citizens and residents to report dormant endowments in exchange for financial incentives, ensuring the rights of involved parties through appeals and judicial review systems. The overall goal is to protect assets and achieve sustainable economic and social development through oversight that is systematic and transparent.
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