The Prince of the Eastern Province sponsors the "Endowment Practices 2024" Forum
His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, Honorary President of the Endowments Committee of the Asharqia Chamber, inaugurated on Sunday, November 24, 2024, at the headquarters of the Asharqia Chamber, the activities of the (Endowment Practices Forum 2024), which was organized by the Eastern Chamber represented by the Endowments Committee of the Chamber, in its fourth edition, in strategic partnership with the General Authority for Endowments, under the slogan (Family Endowments: Their Roles and Potential for Sustainability and Success), at the Chamber's main headquarters, amid the presence of many government officials, businessmen and women, and experts from specialists and those interested in the field of endowments. His Highness toured the accompanying exhibition and His Highness the Prince of the Eastern Province honored the sponsors and supporters of the forum, and during his tour he was briefed on the new session of the forum adopted by the Chamber and the General Authority for Endowments, which comes as a continuation of the awareness campaign of the best practices, initiatives, and innovative and creative programs in the field of endowments. His Highness sponsored a number of memoranda of understanding, as follows: signing a partnership between the Tamkeen Endowments Association and the Abdullah Al Rajhi Charitable Foundation to establish the first endowment renewable energy station, signing a partnership between the Manfa'a Endowments Association and the Al-Dhuwayan Foundation to launch an endowment training center, and signing a partnership between the Tamkeen Association and the non-profit Al-Aswa Al-Hasana Company to cooperate in launching financial products directed at the non-profit and endowment sector.
In the opening of the forum, the Governor of the General Authority for Endowments, Imad bin Saleh Al-Kharashi, said that today we are witnessing major transformations and rapid steps in various sectors and fields, resulting in great leaps and great achievements that have contributed to the advancement of the Kingdom's ranking in international indicators and its occupation of advanced positions. This is thanks to God and then thanks to the unlimited support provided by our wise leadership in various sectors, including the endowments sector, which is one of the important sectors that receives great attention from our wise government as it has spared no effort in providing all the possibilities for the General Authority for Endowments that help it perform its tasks and achieve its goals, which contributes to developing and stimulating the endowments sector. He pointed out that this forum comes as one of the tools that contribute to researching and discussing one of the important topics related to the endowment sector, which addresses one of the pivotal topics that touch on developmental and charitable needs and is related to family solidarity and social solidarity, which is family endowments, which represent one of the important and pivotal pillars in moving the wheel of the national economy and comprehensive development, due to its size, diversity and close connection to the family with its various components, which necessitates taking care of it and addressing the challenges it faces and building institutional models for it that enjoy an independent legal personality that contributes to its governance and development and reducing its stumbling and activating its economic and developmental role, saying: The Authority pays great attention to this type of endowments and is working to launch a number of initiatives with a number of partners to develop and advance them to reach the desired model that we aspire to and in accordance with the best local and international practices in a way that ensures its continuity and sustainability and enhances its economic, developmental and social role. For his part, the First Vice President of the Asharqia Chamber, Hamad bin Mohammed Al-Bouali, said during his speech; This new session comes as a continuation of the awareness campaign adopted by the Chamber and the General Authority for Endowments to identify the best practices that drive the development and investment of family endowments, and the importance of the family charter and its role in the success of the family endowment. He said that the endowment represents a type of social solidarity, and the wise leadership has been keen to enhance the roles played by the business sector in supporting and developing the endowment sector, and pointed to the role of the Eastern Chamber in harnessing its capabilities to participate in reviving and developing endowments among the business sector, so it sought to spread awareness and knowledge of the importance of establishing it and adopting its practices, and coordinated with various parties to develop the systems and regulations that govern it and reformulate them in line with the vision and its goals.
