Asharqia Chamber launches it under the slogan "Return from Investment on Endowments"
The Prince of the Eastern Province opens the activities of the Awqaf Forum with the participation of local and international experts
His Royal Highness, Prince Saud bin Nayef bin Abdulaziz, the Prince of the Eastern Province, will inaugurate, Monday, November 30, 2020, the activities of the Awqaf Forum, which is organized by the Asharqia Chamber through visual communication technology in strategic partnership with the General Authority of Endowments, and comes under the slogan (Return on Investment on Endowments).
The forum reviews, through five dialogue sessions, best practices in relevant topics to increase the return on investment in the endowment sector, enhance the rent for the endowment sector and raise the efficiency of the endowment effect, as well as how to achieve the quality of services.
The Chairman of the Asharqia Chamber, Abdul-Hakim bin Hamad Al-Ammar Al-Khalidi, said that the state is moving within the framework of the goals of the 2030 vision to a new era of the prosperous and diversified economy by emphasizing the importance of the private sector and the roles it can play in building a competitive endowment sector, either by transferring its expertise to it or by establishing new endowments that will support the national economy and cover a wide range of society's needs.
He pointed out that endowments need more ideas about increasing their volume and returns and diversifying their trends, in order for this wealthy sector to achieve tangible participation in the gross domestic product, stressing that this forum aims to contribute to correcting the investment path of endowments and to introduce innovative practices towards new and modern methods of increasing returns to invest in endowments.
Al-Khalidi explained that the forum, which is launched under the slogan of return from investment on endowments, comes as an extension and continuation of the role that the Chamber plays in enriching the endowment field in the Eastern Region and providing its pioneers with new practices and pioneering experiences in achieving its sustainability, hoping that the forum will come out with new proposals that support the 2030 vision regarding the endowment sector He pointed out that the forum constitutes a serious opportunity to benefit from the presentation of specialized working papers in the Gulf, Arab and international framework, as well as being an opportunity to learn about strategies that have proven effective in achieving the sustainability of endowments.
For this part, the head of the Endowments Committee, Ayed Al-Qahtani, said that today, in the era of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, and his Crown Prince, Mohammed bin Salman - may God preserve them - we are witnessing great interest and an expanded movement towards rediscovering the waqf sector by addressing its operational and organizational challenges and legislative legislation to be a correct figure in the national economy, pointing out that this interest calls for the importance of work and participation among all public, private and charitable sectors in providing everything that would contribute to diversifying and renewing endowment banks and raising the efficiency of their investment of funds and enabling them to employ good employment to truly express the size of the Saudi economy It contributes to the development of other sectors besides religious and social needs.
Al-Qahtani explained that the forum will discuss a set of axes related to investing in endowments, which are represented in the investment decision-making compass, successful strategic shifts and their impact on return on investment, developmental prospects for return on investment, as well as governance in investment, as well as providing a package of investment advice in Endowments, saying that the importance of this forum lies in the fact that it seeks to shed light on the various aspects of upgrading the endowment sector in the Kingdom and anticipate its roles and future in accordance with the best endowment practices in light of the current economic development requirements.