Saudi Authority witnesses agreement to launch two investment funds

Riyadh: Future Investment Company and Jadwa Investment Company today, at the General Authority of Awqaf headquarters, signed a partnership agreement to launch two investment funds dedicated to waqf (endowment) and non-profit organizations in the Kingdom.

The two funds are the high liquidity future investment fund (open) and the future investment fund for alternative investments with a volume of SAR50 million. The agreement was signed in the presence of the Governor of the General Authority of Awqaf Imad bin Saleh Al-Kharashi.

The funds will serve as an investment tool for the Kingdom’s awqaf and non-profit organizations and to invest funds in a diversified investment portfolio to achieve long-term returns that can generate and diversify income and increase capital gains.

The agreement is part of the authority’s keenness to activate the role of partnerships that can develop the waqf sector and stimulate it to diversify its investment products in order to achieve financial sustainability and develop resources to enhance the financial performance of the waqf and non-profit sectors, which would contribute to realizing the objectives of the waqf sector in enhancing the financial investment of civil associations and activating their role in the development process.

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