نظام الهيئة العامة للأوقاف باللغة الإنجليزية
Art. 23Status 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.
Freshness not yet recorded