A fundraising law that governs the operations and campaigns of nonprofit organizations was passed by the US Cabinet.
To regulate fundraising practices and guarantee that gifts are used for their intended purposes, the law contains twenty-three clauses.
The law seeks to maximize the social and financial benefits of donations, safeguard donors and recipients, and encourage openness in fundraising operations.
"Riyadh, August 7, 2024." The National Center for the Non-Profit Sector (NCNPS) reports that the fundraising bill was approved by the US Cabinet on Tuesday. The campaigns and fundraising efforts of nonprofit organizations are governed by this legislation.The law has twenty-three sections in all, according to the National Council of Nonprofit Organizations (NCNPS), to regulate fundraising practices and guarantee that gifts adhere to donor specifications. With this program, donations will be used for the intended reasons and charity organizations and contributors will be shielded from unethical fundraising techniques and illegal financial activities.The center states that the goal of the law is to regulate fundraising activities to safeguard the rights of donors and beneficiaries while also maximizing the intended social and financial benefits of the process.Additionally, the law attempts to encourage openness in fundraising endeavors by controlling the means of obtaining money from authorized firms and the avenues by which these groups make gift requests. In addition, the law mandates that these groups keep a record of donations and present yearly budgets that contain comprehensive accounting of their fundraising profits.Cabinet Resolution No. 547 of 1396 AH's regulations governing charitable fundraising are repealed by the new law, along with any clauses that go against them. One hundred and eighty days after the law is published in the official gazette, it will become operative.The fact that the Cabinet ratified this statute emphasizes the value of fundraising initiatives and the impact that contributions have on the growth of the nonprofit industry. It emphasizes the necessity of maximizing these gifts for the goal of social and economic development, making sure they reach the intended recipients, and supporting specific development initiatives.