Since the adoption of the Law of the General Authority for Awqaf by Royal Decree no. m/11 dated 26/02/1437 AH; 08/12/2015 AD, the Authority has made constant effort to draw up a clear road map and strategy that contributes to achieving the goal of "organizing, maintaining, and developing endowments in order to achieve the Donor Conditions and strengthen its role in economic and social development and solidarity in accordance with the purposes of Islamic law and regulations".
The steady growth in the endowment sector is one of the pillars of sustainable development, and the Authority is working on studying the current situation of endowments, challenges, and risks it faces, in cooperation with relevant authorities and the use of specialized consulting offices, relying thereof on international best practices and standards. The Authority have also developed a mechanism of action after conducting reference comparisons and determined accordingly the courses of action through which the Authority will be able to perform its functions. The General Authority for Awqaf (GAA) will regulate and empower the endowment sector, and facilities its procedures, and develop and maximize its impact, as the endowment sector is an important sector, as indicated in the Kingdom Vision 2030, and plays a key role in achieving sustainability of the non-profit sector, and the endowment industry is one of the most promising industries that will contribute to the development and economic renaissance of the Kingdom of Saudi Arabia. The Authority’s strategy is linked to a number of targets mentioned in the Kingdom Vision 2030 by contributing to achieving a number of objectives and indicators, including:
- Promoting Islamic values and national identity.
- Enabling a healthy and prosperous life.
- Development and diversification of the economy.
- Increasing employment rates.
- Enhancing the governance effectiveness.
- Achieving sustainability for the non-profit sector.