The General Authority for Endowments continued its great achievements during the past year, as it was able to achieve profitable returns of more than one billion riyals from the investments of community endowments, which number about 600 investment endowments, while the total contribution of partners to the expenses of endowments and sustainable development goals amounted to about 2.8 billion riyals.

The General Authority for Endowments confirmed in press reports.

The General Authority for Endowments confirmed in press reports that last year it received 1.39 billion riyals from endowment funds deposited with the General Authority for the Guardianship of the Funds of Minors and Their Equivalents, while it received 1.29 billion riyals for expropriated endowments, including cash, in-kind compensation and shares.

The General Authority for Endowments confirmed in press reports that it received 1.29 billion riyals for expropriated endowments. The Authority disclosed that it registered 13.2 thousand endowments during the past year, and assessed 3 thousand endowments with regard to money laundering and combating the financing of terrorism risks for the past year, in addition to processing 1358 requests for inquiries from competent authorities related to suspected cases of money laundering, recording an increase of 33% compared to the previous year of 1042 suspected cases.

The Authority disclosed that it received 29 billion riyals in return for removed endowments, including cash, in-kind compensation and shares. The Authority indicated that it has prepared a corrective plan for some endowments, addressed some violations and established several cases in favor of the endowment, which contributed to the issuance of several rulings to recover amounts in favor of the endowment, and is currently working on implementing cadastral elevations for 183 sites belonging to the endowment with a total area of 14.2 million square meters.

It is worth mentioning that the General Authority for Endowments was established in 2010 with the aim of organizing, preserving, and developing endowments in Saudi Arabia in a way that fulfills the conditions of the endowments, and the number of endowments inventoried by the Authority reached more than 12 thousand endowments, which varied between commercial lands, agricultural residential, apartments, residential units, and commercial centers.

The number of endowments inventoried by the Authority has reached more than 12 thousand endowments.