11/09/2014
In a meeting organized by the East Chamber in the presence of 12 interested party
Experts and specialists emphasize the importance of "endowment" for the sustainability of family businesses
Serious call to attract foreign investments in the areas of endowment
Emphasis on the importance of integration between the endowment entities in the Kingdom
Endowment Committee adopts a set of events to develop the endowment work
Participants in the first meeting of interested entities specialized in the development and organization of the Committee for religious endowments in the East Chamber Tuesday evening (9/11/2014) stressed the importance of integration between entities in the development of the endowment in the Kingdom and activity diversification, raise the level of its contribution to the economy in General,
They stressed in the meeting that was held in the main Chamber in Dammam and opened with a welcome from Mr. Abdulrahman Ibn alhumain, Assistant Secretary General of the public relations of the Chamber with the participants and stressed the keenness of the Chamber represented by Committee of the Waqf and the cooperation with the various actors involved and interested in this matter.. As he conducted the meeting Committee member Dr. Sami Salman told the meeting the importance of cooperation and communication among entities interested in cessation through several activities, including the signing of a memorandum of understanding between these entities, and the creation of an electronic portal for News Exchange, a telephone consultant, shared databases of projects. Noting the need to define business entities operating in the Endowment, and intersectoral projects endowment, between them and the business sector.
In this context, participants suggested that the importance of an annual study of endowments in the Kingdom include the needs and expectations of sector entities, organizing an annual Forum in cooperation with the Government bodies concerned to attract experts, experiences and relevant authorities from home and abroad, the creation of specialized courses in the field of LV, the establishment of a public library on the endowments, prepare a joint working paper to document and I recommend meeting for more than five hours to find an agreed mechanism to display the Waqf and circulation tests among entities working in the area of suspension, such as documenting successful local models in LV, and partnerships with international companies specialized in this field, during the meeting, attended by representatives of 12 hand Waqf or endowment provide interested a number of proposals for the development of this activity, including work to study and address legislative obstacles and to develop existing legislation and identifying supporting endowments, and work to support Entities operating in the field of endowments in particular emerging ones, and to defend their rights.
Participants recommended that who provided most of the region of the Kingdom that the endowments of Saudi Chambers committees, particularly the Committee of endowments in the East Chamber with a role as a link between the entities and the Government side, contribute to the achievement of communication with the world, such as hosting the Waqf experts global or endowed local delegations abroad, that occur from contact with family businesses to define the option as a cessation of successful solutions to achieve permanency for these companies, suggested to be in the Saudi Arabia Chamber (including East Chamber) judge of the endowments of the Ministry of Justice. Among the proposals that have been circulated in the meeting is attracting foreign investment in the area of cessation and maintenance, activation in development and activation of information activity through cessation specialist versions of the room, and finding a list of corporate governance of the stay.
During the meeting, they reviewed the endowments Committee member Chamber Chief Executive team with Mr. Abdulhadi Al-Qahtani overview Committee, achievements and future plans and objectives of the Committee, Al-Qahtani said business awareness of the importance of establishing moratoriums, and coordination with government agencies to develop rules and regulations that govern the endowment projects. Al Qahtani said the Committee in its work to encourage the business sector to establish endowments has a number of events during the past year 2013 including a meeting with the Committee to discuss the aspirations of the participation and role of the Committee and anticipate its future, prioritize, and Committee members by field visits to some experiences and benefit from the expertise of Waqf, organize a panel discussion entitled the role of Waqf committees.
He also said that the Commission intends in the coming years, a number of activities that support its orientations and objectives in the development of endowment including: distribution of albums ' 30 step to stop special ', application design encyclopedia of LV, holding an annual evening of endowments, and this year will be titled ' the sustainability of family companies, endowments, organization of events to publicize the Business Committee, added Qahtani, that the Commission intends to launch a number of initiatives and the development of service Endowment study on regulations concerning the endowments, a panel discussion among the committees in Saudi Arabia Chamber, the meeting with the expert body, the Shura Council, a meeting of international experiences in the field of Awqaf once every three years, as well as a rehabilitation program for those associated with Explaining that each event has been scheduled in the work plan for the next three years. During a profile of entities participating in the meeting, it was emphasized that the development of Waqfs, and provide an endowment as an important option for family businesses to maintain the continuity of its work, and awareness.
