It is an endowment investment fund whose units are endowed and may not be traded or refunded.
Investing the endowment funds and disburse its incomes on various charitable aspects, in accordance with the endowment objective, and diversify the investment.
There are no applicable fees for that.
Currently, all endowment investment funds are public funds that do not have a fixed term.
The Donor is not required to be Saudi, whether the person is normal or legal.
All fund units are endowed and may not be refunded.
All returns are disbursed to the beneficiaries in accordance with the specified disbursement areas.
The General Authority for Awqaf may, at its sole discretion, convert them to other non-profit entities in a way that does not conflict with the Donor Conditions.
The instructions of the endowment investment funds issued by the General Authority for Awqaf, and the list of investment funds issued by the Capital Market Authority.
One or more non-profit entities in the Kingdom, such as charities and other non-profit organizations.
The fund’s incomes are disbursed through the allocation of a percentage of it (endowment income) to the endowment expenditure determined in the fund’s terms and conditions via the beneficiaries.
Yes, one or more non-profit entities may establish a single endowment fund.
The application is submitted by licensed market institutions through the website of the General Authority for Awqaf for study and approval; a certificate of approval of the fund is then issued and sent to the registered email, and in case of rejection, the reasons for rejection shall be mentioned therein.
You must attach the following:
- Agreement between a licensed market institution and the beneficiaries
- Fund terms and conditions
Share
Share