1Second Edition | April 2020

On Endowments An endowment is defined as an entity under the supervision of the endowment trustee (Nazir) and subject to the oversight of the General Authority for Awqaf in the Kingdom, in accordance with the provisions of the Law of the General Authority for Awqaf issued under Royal Decree No. (M/11) dated 26 -afar 1437 AH (corresponding to 8 December 2015), together with the related laws in force in the Kingdom of Saudi Arabia. Types of Endowment: According to Article One of the Law of the General Authority for Awqaf, endowments are classified into three types as follows: y Public Endowment: An endowment restricted to certain specific charitable purposes, whether designated by name or description, such as endowments for the sites of Hajj and Umrah. y Private (Family) Endowment: An endowment restricted to certain descendants or relatives, whether designated by name or description, such as when the beneficiaries of the endowment are limited to descendants or relatives. y Joint Endowment: An endowment that combines more than one type of endowment, such as an endowment that includes allocations for public charitable purposes and designated beneficiaries.