Alqanoni

نظام الهيئة العامة للأوقاف باللغة الإنجليزية

Art. 23
Status unknownSaudi ArabiaRegulation

Issued by General Authority for Endowments (Awqaf)

1. invest the assets of endowments under its trusteeship and the surpluses of their revenues upon conducting the necessary feasibility studies; 2. invest a percentage not exceeding 25% of the annual net income of the endowment under its trusteeship for the benefit of the endowment; 3. deduct a percentage not exceeding 20% of the surpluses of the annual revenues of endowments under its trusteeship for the development of other endowments under its trusteeship, provided that such amount is returned to the endowment within a maximum period of five years from the date of deduction. Law of the General Authority of Endowments The Authority aims to regulate, maintain, and develop endowments so as to fulfil the conditions of their endowers and promote the role of the endowments in economic and social development and social solidarity in accordance with the intents of Sharia and law

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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