The General Authority for Awqaf Honors Wareef Charity as One of the Biggest Endowment Funds

Riyadh, March 7, 2025 – The King Faisal Specialist Hospital Charity Foundation, widely recognized as “Wareef Charity,” has garnered significant acclaim, securing second place for possessing the second-largest capital in endowment investment funds across Saudi Arabia. This prestigious recognition was presented by the General Authority for Awqaf during the Nomo Financial Sustainability Forum, held to honor institutions and initiatives that contribute to financial sustainability within vital sectors. The accolade was bestowed upon Wareef Charity in recognition of its groundbreaking initiative, the Alinma Wareef Endowment Fund, the first publicly offered, open-ended endowment investment fund in the Kingdom.

The Alinma Wareef Endowment Fund, which was launched in November 2018 as a strategic partnership between Wareef Charity and Alinma Investment Company, has been a cornerstone of innovation in the realm of healthcare financing. Designed to offer a sustainable and scalable solution, the fund enables both individuals and institutions to invest in a future-focused model that seeks to bolster the Kingdom’s healthcare sector. By directing the financial returns generated from investments back into specialized health initiatives, the fund plays a pivotal role in advancing the financial sustainability of Saudi Arabia’s non-profit healthcare infrastructure.

This innovative model of an endowment investment fund has garnered attention not only for its financial impact but also for its alignment with the broader goals of both Wareef Charity and the Kingdom's healthcare sector. The fund serves as an essential vehicle for securing long-term, sustainable financing for various key initiatives within the medical community. Its primary objectives include supporting the treatment of underserved patients, advancing medical research, funding the development of healthcare infrastructure, promoting preventive health awareness programs, and offering specialized training for healthcare professionals. In doing so, the Alinma Wareef Endowment Fund is playing a crucial role in helping Wareef Charity achieve its mission to drive positive, lasting changes in the healthcare sector while contributing to the achievement of national goals aimed at enhancing the role of endowments in supporting crucial sectors.

Reflecting the success of this initiative, the Alinma Wareef Endowment Fund has demonstrated impressive financial growth. As of recent data published on the Saudi Stock Exchange (Tadawul), the fund's market value has surpassed an impressive SAR 87 million. This achievement stands as a testament to the effectiveness of the fund’s investment strategy, which has successfully maximized returns and channeled those funds into the development of critical healthcare services. Specifically, the returns are being strategically reinvested into medical research, patient treatment programs, and the continued development of healthcare services at the King Faisal Specialist Hospital & Research Centre, ensuring the long-term sustainability of specialized health initiatives across the Kingdom.

Endowment investment funds, like the Alinma Wareef Endowment Fund, are increasingly seen as essential vehicles for the institutional management and growth of charitable capital. These funds are governed by a robust legal framework and a set of specific policies that ensure transparency, good governance, and responsible management. Regulatory bodies closely supervise such funds, which adds an extra layer of confidence for investors and ensures that the capital is utilized efficiently and effectively. These structured vehicles allow for diversified investments, maximizing the benefits not only for the fund’s beneficiaries but also for the wider community.

With such innovative and strategic models in place, the Alinma Wareef Endowment Fund is contributing significantly to the broader vision of building a sustainable and dynamic healthcare system in Saudi Arabia. By investing in the future of health, the fund is not only addressing immediate medical needs but also empowering future generations of healthcare providers, researchers, and institutions. In this way, the Alinma Wareef Endowment Fund stands as a leading example of how endowment funds can be utilized to foster long-term growth, innovation, and sustainability in the healthcare sector.