Dr. Mansour bin Abdulrahman Al-Ghamdi, Professor at King Abdulaziz University, presented nine financial solutions to the disabled endowments, during the second meeting in the third session of Awqaf Diwaniyah, which was held at Asharqia Chamber, represented in the Center for Social Responsibility, under the title (financial solutions for the disabled endowments) on Wednesday, January 30, 2019.
The meeting was attended by a member of the Board of the Chamber and Vice Chairman of the Endowment Committee, Mr. Hamad bin Hamoud Al-Hammad, and a group of businessmen of the region, interested individuals and specialists in the field of endowments.
Al-Ghamdi explained that the solutions of the waqf endowments are varied and suitable for each case separately from either the waqfs that have stopped or suffer from crises of all kinds, as there is no one solution for everything, but each case should be addressed appropriately.
He pointing to the financing solutions through the construction and operation contracts, and the debt on the moratorium to reform, or integration with another entity, whether a moratorium or a company, with the aim of increasing revenues and emerging from crises of default and bankruptcy and its benefits include reduced production costs, increased financial capacity and efficiency in performance.
Al-Ghamdi went on to say that there are other solutions, namely, the tendency to activate the resources that are not being used, to work to rationalize expenditures and expenses and financial and administrative restructuring, as well as the solution to replace the moratorium by selling it and buying others and amending the condition of the waqf and dividing the common money, which have legitimate solutions.
Al-Ghamdi said that the suspension of the degrees begins with the lack of utilization and then stop the suspension of any partial losses and then get partial failure and then comes the stage of public disruption.
He pointed out that the reasons for the suspension of the stay multiple, either because of the negligence or ignorance of the management of the endowment, or the detainee itself and change the circumstances surrounding it or the procedural environment of new regulations and regulations.
At the end of the meeting, the member of the Board of Directors and Vice Chairman of the Endowments Committee, Mr. Hamad bin Hamoud Al-Hammad, presented a commemorative plaque to the guespeaker Dr. Mansour bin Abdulrahman Al-Ghamdi, a professor at King Abdulaziz University.
