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Source:
الوطن
Endowment Funds Set Apart
The Council of Ministers, chaired by the Crown Prince, approved financial oversight rules for endowments managed or supervised by government entities. The rules separate endowment accounts from the entities’ budgets and strengthen transparency, protection of assets, and management efficiency. They also govern the investment of endowment funds in accordance with Sharia principles and the endowers’ conditions, and regulate transactions and procurement to support competition, local content, and small and medium-sized enterprises, while curbing conflicts of interest and abuse of influence.
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