_1777294237270_124456903.png&w=64&q=75){kind=small}
Endowments Authority Sets Revival Rules for Dormant Funds
The General Authority of Endowments in Saudi Arabia has increased the total value of endowments whose uncertainties have been recovered, surpassing one and a half billion riyals. The Authority has also introduced a new regulation aimed at revitalizing unknown and dormant endowments, and achieving sustainable development through a comprehensive framework that broadens the scope of work to include investment, development, financing, and partnership. This initiative also aims to enhance governance and transparency within the endowment sector. Additionally, the Authority has raised the maximum reward for informants regarding unknown endowments to 10 million riyals, while safeguarding data confidentiality and informing informants of the outcomes of their reports. This move is intended to encourage community participation in discovering and developing endowments.
Notice: This Is an AI-Generated Summary
Comments (0)