Riyadh, August 29, 2023, At the General Authority of Awqaf headquarters today, Future Investment Company and Jadwa Investment Company inked a partnership agreement to develop two investment funds targeted at waqf (endowment) and non-profit organizations in the Kingdom. The two funds, with a combined volume of SAR 50 million, are the high liquidity future investment fund (open) and the future investment fund for alternative investments. Imad bin Saleh Al-Kharashi, the Governor of the General Authority of Awqaf, was present when the agreement was signed. The money will be invested in a diverse investment portfolio to achieve long-term returns that can generate and diversify income as well as boost capital gains for the Kingdom's awqaf and non-profit organizations. The agreement is part of the authority's desire to activate partnerships that can develop the waqf sector, encourage it to diversify its investment products in order to achieve financial sustainability, and develop resources to improve the financial performance of the waqf and non-profit sectors. This would help to realize the waqf sector's objectives of increasing the financial investment of civil associations and activating their role in the sector.
