09/10/2016
In the third meeting of Awqaf in Asharqia Chamber
The head of the National Committee of Awqaf Council of Saudi Chambers, Badr bin Mohammed
Al Rajhi, that the development of endowments in the Kingdom is linked greatly to
the launch of Awqaf Committee, stressing the importance of hiring experiences
before starting the establishment of the Waqf, and keenly consulting the experienced before approving
commands and Waqf, also the importance of approving the institutional governance
programs in the Department of Awqaf, so principals Council is to be the
decision maker and the supreme authority in the management of Waqf Affairs and not
performing the administrative work, pointing that the diversity of Awqaf between
real estate and stocks, hotels and farms
greatly reduces risks and gives Awqaf
the sustainability factors.
Al Rajhi, was a guest in the third meeting of Awqaf held
by Asharqia Chamber represented by the
community responsibility center, the evening of Wednesday, October 5, 2016, in
collaboration with Afaaq Al Awqaf company and patronized by Hamad Al Hussaini Charity
Foundation, and witnessed a crowd of businessmen of the eastern region, judges ,interested
figures and specialists in the field of Awqaf .
Al Rajhi explained the importance of contract to
achieve the continuity of the Waqf,
pointing that most of the delayed disturbed
Awqaf is the ones with weak contracts, pointing to the importance of
professionalism when writing, and that is giving the flexibility to the council
of supervisors, saying that whenever the Waqf contracts were distinctive it will be permanent.
And the quality of supervisors Al Rajhi preferred those who have the power,
honesty and experience in Awqaf and investments improvement, also preferred the
idea of a Council and not one and one, and not a big number but formal.
Rajhi pointed to the importance of a reward for the council of supervisors with the contract, with a percentage of profit to motivate supervisors to raise Waqf returns,
pointing to the experience of the father Abdul Aziz Al
Rajhi and his keenness to make a reward for
members of the Council and linked to the presence of the sessions as a percentage
of profit to motivate them to profit Waqf, also expanding its powers and giving it
the necessary flexibility according to time and place to achievethe strategic
goals.
Al Rajhi said
the father put a major platform for all Rajhi Waqf, the allocation of 25% of
the Waqf earnings for investment, saying
that Rajhi Waqf last year adopted a five
years plan starting from 2015 to 2019 aiming to achieve growth in Waqf earnings
increase of 184% and of 36% per year.
For his part, Mousa bin Mohammed Al Mousa, a member of
the Committee of Awqaf in Asharqia
Chamber presented the proof of it being
the top attraction in the chamber for next few weeks, entitled
"Partnership in the field of Awqaf in the Kingdom of Saudi Arabia" manual, saying that it is an
introductory guide specializing in advisory authorities of Awqaf in the Kingdom, and it aims to bring Awqaf entities together in the Kingdom and
knowing the fields of each other, saying
that as a mirror and a map of whatever relates to Waqf in the Kingdom.
At the end of the meeting, the member of the Board of
Directors of Asharqia Chamber, Nayef bin Thallab Al Qahtani, presented a
memorial shield to Chairman of the National Committee of Waqf Council of Saudi
Chambers, Bader bin Mohammed Al Rajhi.
