<“The value of endowments in the Kingdom is estimated at more than 500 billion riyals,” revealed Dr. Aayed bin Farhan Al-Qahtani, Chairman of the Board of Directors of Smo Holding and Chairman of the Endowments Committee at the Eastern Chamber, pointing out that the Endowments Committee in the Eastern Chamber since its establishment has been working to develop and develop this sector and activate its activities to serve the public interest. Al-Qahtani announced the allocation of endowments worth more than one billion riyals, in the form of real estate and in-kind assets for family companies in the Eastern Province, after consultations with stakeholders and specialists.

Al-Qahtani raised the value of endowments in the Kingdom estimated at 500 billion riyals. <Al-Qahtani thanked the Emir of the Eastern Province, His Royal Highness Prince Saud bin Naif bin Abdulaziz, praising his efforts in supporting the endowment sector in the region and his endeavors in this regard. Al-Qahtani explained that ”endowment is an investment with God - the Almighty - that positively affects the sustainability of companies, a reason for business development, and works to strengthen the relationship between merchants and members of society,“ urging businessmen and company managements to follow in the footsteps of the two positions and contribute to the development of the sector with ideas and initiatives. Al-Qahtani pointed out that the committee intends to establish an information center to serve the endowment sector in the Kingdom in order to develop scientific studies documenting the status of these endowments and ways to develop this important sector.