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Saudi rewards 10 million riyals for uncovering dormant endowments
The Kingdom has issued a new regulation to revive unknown and dormant endowments, aiming to encourage their discovery and reactivation for investment and development. The regulation ensures protection for whistleblowers by guaranteeing the confidentiality of their information and offers financial rewards of up to 10 million Riyals, depending on the effort invested and the value of the endowment. Eligible cases include endowments without an overseer, those whose location is hidden, or those whose income has ceased for two years. There is also a one-year period granted for the overseer to revive the endowment, as well as mechanisms to restart non-productive endowments through leasing, investment, or merging, all with the goal of maximizing the utilization of endowment assets.
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