Asharqia Chamber reviews the role of endowments in dealing with crises
Asharqia Chamber, represented by the Endowments Committee, reviewed, on Wednesday, February 17, 2021, remotely, a workshop within the first meeting of the fifth session of the series of meetings of the Diwaniya of Awqaf in the Asharqia Chamber, which was held under the title (The Role of Endowments in Crises "Corona Crisis as a Model"), and dealt with the roles that the Endowments had previously practiced And recently, in dealing with crises, the financial advisor, member of the board of directors of the "benefit Association" for the Care of Endowments, Ayman Abanami, and it was moderated by the Executive Director of the Council of NGOs, Eng. Abdulrahman Al-Uhaidib.
Abanami said that there is a set of elements that must be met for the endowment instrument to be supportive of responding to crises, by authorizing supervisors to assess interests, disbursing endowment yields, presenting banks to others, and setting up pandemics for the beneficiaries of the endowment assets if the competent authorities decide to assess them as pandemics. The importance of coordination and integration between the endowment authorities in the Kingdom to respond to the crisis, by appropriating the roles of the government, ministries, endowment funds, and civil councils, and proposing initiatives.
Abanami introduced the Corona Observatory platform to monitor the charitable sector initiatives in this crisis, saying: It is an electronic platform launched under the patronage of the Minister of Human Resources and Social Development, and it was concerned with monitoring the initiatives of non-profit sector organizations targeting the Corona pandemic, highlighting and appreciating the sector's role and enhancing coordination and integration in facing the pandemic It was part of the integrative efforts focused on fighting the pandemic and limiting its spread, in addition to contributing to stimulating the launch of voluntary initiatives and its awareness campaigns
Abanami indicated that the number of implemented initiatives has reached about 985, including 281 in the relief field, 382 in the social field, about 229 in the educational and awareness field, about 33 in the developmental fields, and 160 in the health fields, and he pointed out that endowments and donors have come with charitable societies. In the tertiary sector, more than 527 million riyals, representing nearly 70% of what was provided by companies listed on the Saudi stock market.
And he went on to say the importance of looking at endowments as the main supporter of charitable organizations at the time of calamities, activating remote work and investing technology to save operational expenses and achieve an efficiency of spending, stressing that the role of the third sector is large and often parallels the role of the private sector, if not outdone, but it needs to be monitored and highlighted in the media in a manner Professional and ubiquitous.
