https://arab.news/2dj3u
RIYADH: Net assets of licensed endowment investment funds in 抖阴短视频 reached a record SR1 billion ($266.67 million) in 2024, marking a 29.3 percent increase from the previous year.
According to the General Authority for Endowments, this growth follows the 2023 record, which surpassed the half-billion riyal mark.
The increase in assets was attributed to the licensing of five new entities, bringing the total to 34 endowment investment funds, 27 of which are public and seven private.
Endowment funds in the Kingdom play a crucial role in driving sustainable development by providing the financial foundation for long-term projects that address critical societal needs.
These reserves are established through investments where the principal amount is preserved while the earnings are used to support various charitable and development initiatives.
This model ensures a continuous flow of resources for vital sectors such as education, health care, and infrastructure, as well as social welfare.
In 抖阴短视频, endowment funds are designed to align with the Kingdom鈥檚 economic development goals and are Shariah compliant.
They are used to finance projects that contribute to public welfare, including building educational institutions, supporting healthcare initiatives, and funding infrastructure projects that benefit communities across the Kingdom.
Strategic investment management ensures these funds鈥� sustainability, which allows the endowment to generate ongoing revenue for its initiatives while maintaining the original capital intact.
The Saudi government, through the General Authority for Endowments, has streamlined the process for licensing and managing these funds, enhancing transparency and enabling them to contribute more effectively to long-term development goals.
These reserves are also governed by regulations set by the Capital Market Authority, which oversees the creation of investment products that are aligned with the country鈥檚 broader objectives for economic and social progress.
By focusing on sectors such as education and health care, endowment funds in 抖阴短视频 support the growth of human capital, improve the quality of life, and contribute to the achievement of Vision 2030, which aims to diversify the economy and reduce dependency on oil.
The funds also address the country鈥檚 growing demand for infrastructure and social services, particularly in urbanizing areas like Riyadh and Jeddah, where population growth is driving a need for sustainable development solutions.