28/12/2014
Experts discuss cessation of East Chamber
Four types of endowment contribute to the sustainability of the family in kingdom companies
Confirmedparticipantsin the workshoporganized by theEastChamberreparativeCommissionEndowmentsentitled (the sustainability offamily businessesandendowments)yesterday eveningWednesday, December 24, 2014that thebusiness familiesthat allocateendowmentsportion oftheir wealthorearningsorassetsto achieveitsdevelopment and successand maintainsits reputationandcommercial position.
DammamCourtChairmanSheikhSaadbin MohammedAl-Muhannaspeaker atthe workshopshared bythe chairman ofZamil GroupEngineerKhalid binAbdulla Al Zamilspecialistin the affairs ofthe family businessandwas led byDr.Sami Suleimanthatfamiliesknowntheir interestinendowmentbusinessmay varyinfinancialmattersor administrativein their workbut theyagree on theimportance of theendowmentandthenrenouncealldifferences andcome backcalm betweenher sons, noting thatcharityretardationgood inbusinessand children.
He saidAl-Muhannaduring the workshop, which sawa significant presenceof specialistsand interested, led byHis Excellencythe President ofthe Riyadh Chamber,Council of Saudi Chambersand ChairmanDr. AbdulrahmanAlzamil ,andvicepresident of the EastChamberprofessorMohammed binSaadAl Faraj, Secretary Generalof the Chamber, Mr. Abdulrahmanbin AbdullahAlwabil thatendowmentsare spreadin Muslim countriesformsdifferent, whetherexpress orceasecommandmentgeneandserves manyofthe beneficiaries in thedifferent sectorsin education and health, pointing out thatthe detailsof Awqafandmuchevolvedfrom the former.
Muhannasaidthat theendowmenthas played an importantandsignificantrole in thestability of thecommunitiesin the areas ofmultinoting thatprevious generationsstudiedinschoolsandendowmentas someDAIloansendowment.
AlMuhannagaveexperiencesand examples ofendowmentcamethe most prominentstopKingSaud-Allahhave mercy on himwhere they haltedhis palacein MedinaIslamic Universityandwas thenucleus ofthe work in thissector in theUKare now studyingwherestudentsspeak190languages,pointing out that theendowmentscometodeal witha lot of problems.
And Al-Muhannathatthe experiences of somecountries have offereda positive modellasted for morethan 200 yearsandoffersmany servicesto large numbers ofbeneficiaries.
For his part,EngineerZamil saidthat theendowmentprovidesthe pondto the owners offamily businessesandachieveitssustainability andcontinuedits work andextendthe pondfor the childrenandsuccessive generations,notingthat the importance ofthe moratoriumisineffectin the communitycitingthat thereEndowmentendedbecause ofmismanagementthataffected thesustainability.
AlZamilsaidthatsustainabilityEndowmentsdirectly linkedto form aboard of directorsindependentandsecretary-generalorthe wardena charismaticand powerfuland has theexperienceto proposeappropriate programsthat benefitthe community, such aseducation and training programsandtothe development ofendowmentanddevelop strategiesthat promote thework.
Al Zamil saidthatthere are several typesofendowments, includingType I:stop thereal estate assetsandthere arelocal companiespresentedinthis kindanddevotedthe proceedsinthe aspects ofthe bestselected, andthe pros andexistence offixedassets andknow the size ofthe rentthat can beownersto abide bydisbursementaccording tothe specificbudgetsand lack ofrisk.
And the type ofthe second, ahaltpercentageof the estate, bothin theoperating company, orreal estate assetsandthis happensafter the death ofthe situation, andthe prosplurality offiscal revenue,andisthe fastest growingof theother, andthe riskthat itfalls underthe economic cycleof the companyhas beenstoppeddueto anyloss that mayoccur,orAs a resultof thedifferencesandstopa familymay be affected.
Thirdmoderntypewhichcan recordreal estate assetsandsharesofcompanieson behalf ofcompanies andendowmentin the life ofthe situation, andthe advantagesthat itis possible to applygovernanceand clarity ofplanning andtransparency,and the type oftalkis alsothe fourththat the personstopproportion ofhis companytostop andbe continuousandevolvingto raisethe ratioas needed.
At the end ofthe eveningThe Chairmanhonored the speakersand also honored theVicePresident of the ChamberMr. MohammedFaraj.
