Licensed endowment investment funds (waqf) in Saudi Arabia have surpassed SAR 1 billion in net assets for 2024, more than doubling last year’s SAR half-billion milestone.
This growth aligns with the launch of five new funds, increasing the total to 34, and marking a 29.3% rise in assets with an average asset size boost of 13.9%.
The General Authority for Awqaf licensed these funds in 2024, adhering to its established guidelines. This brings the total to 27 public and seven private endowment investment funds. The authority’s strategy focuses on enhancing the sustainability of the endowment sector by improving the licensing process for endowment investment products.
It is dedicated to simplifying procedures to encourage individuals and entities to expand their activities across various sectors.
Endowment funds are equipped with effective mechanisms for sustainable development, employing best practices in managing endowed resources to meet social and developmental needs.
These funds engage in developmental projects that address societal needs and offer programs aimed at achieving optimal developmental returns. They also foster connections between endowment projects and initiatives by relevant authorities and charitable organizations.
