المملكة: The condition of endowment, sustainability and the rights of beneficiaries .. The most prominent principles of endowment governance evidence

The General Endowments Authority in the Kingdom presented a “Guide to Endowment Governance Principles” through a “poll” platform, in order to provide an opportunity for those interested and the stakeholders to give their opinions on the proposed principles, which aim to improve the management of endowments and achieve the highest levels of efficiency and sustainability.
The guide represents a comprehensive framework for endowment governance, setting principles that fundamentally contribute to achieving the goals of those who stop and the goals they have stopped their origins.
These principles revolve around the implementation of the conditions of those who stand carefully, enabling the vision and executive departments to perform their roles with the best efficiency, enhance the management and investment of endowment resources in an optimal way, in addition to achieving the highest levels of compliance with the relevant legislation and regulations.
The principles to enable the endowments to adopt best practices in the management of endowment entities, while ensuring the protection of the rights of beneficiaries and enhancing the concepts of transparency, accountability and justice in the management of endowments.
The principles of endowment governance in the Kingdom include 7 major principles aimed at enhancing the efficiency and sustainability of endowments, and to ensure the achievement of the goals of those who stand.
These principles included the commitment on the condition of the endowment and its purpose, the sustainability of the endowment, the protection of the rights of those arrested, in addition to enhancing the effectiveness of the glasses, and ensuring a fair and fair dealing with the stakeholders.
The evidence also emphasized the importance of accountability, transparency and disclosure, to ensure the Endowment Administration according to the best of the provisions and achieve its sustainable impact on society.

Standing condition

The evidence focuses on the need to adhere to the conditions of the stands and implement them in the best way, taking into account their purposes when facing applied challenges. The endowment condition is the basis on which the endowment administration is based, and determines how to dispose of its assets and banks.
To ensure this, the evidence recommends that all documents related to stopping and view them accurately, with the interpretation of their texts in accordance with linguistic and legal rules, and resorting to the competent authorities in the event of mystery. It also stresses the necessity of documenting these conditions in the internal policies of the endowment, while setting clear mechanisms to control their implementation.

Control mechanisms

The guide includes recommendations that the exchange operations should be documented according to the banks specified in the endowment document, and to submit annual reports that explain how the endowment assets are managed and their development.
In cases where the endowment requirement is not possible, the causes should be clarified and documented officially, with the possibility of reviewing the competent authorities to make appropriate amendments to ensure their compatibility with the general destination of the endowment.
The evidence also recommends preserving the endowment assets and managing it in accordance with the best practices used globally, while adhering to the mechanisms specified in the document regarding the appointment of the eye and determining their responsibilities.

Endowment sustainability

Sustainability is a fundamental principle in endowment governance, as the evidence stresses the importance of preserving the assets of the endowment and its development by adopting balanced investment strategies. This includes officially documenting endowments and their assets, applying clear policies for the maintenance of endowment property, and legally protecting them, as well as managing risks that may threaten their continuity.
The guide also recommends the necessity of adopting effective plans to ensure smooth complacency, which reduces the risk of disruption due to death, disability or insulation.

Distribution justice

The evidence emphasizes that the beneficiaries’ use represents the primary goal of the endowment, which requires the commitment of the eye to the performance of their rights on time, and to ensure justice in distributing rent according to the conditions of the endowment. It is recommended to set clear policies to identify the beneficiaries, and to disclose the criteria and mechanisms of distribution to enhance transparency.
It also calls for enabling the beneficiaries of their rights to the endowment benefit, while updating their data periodically to ensure the proceeds of the due categories.

Effective governance

The effectiveness of the eye is an essential pillar in endowment governance, as it is required that the beholder be qualified and able to perform his responsibilities according to the relevant regulations and instructions. This requires sufficient experience and skills to make sound decisions that achieve the endowment and sustainability interest.
Looks also must allocate the time and effort to follow the endowment work accurately, and to take decisions based on international best practices.
Transparency and accountability to enhance confidence
Transparency and accountability is of great importance in ensuring the sustainability of endowments and enhancing their credibility in front of society and stakeholders.
The evidence emphasizes the need to prepare periodic reports on financial and administrative performance, and to provide basic data for beneficiaries while maintaining the confidentiality of sensitive information.
It also requires compliance with relevant regulations and regulations, while holding the glasses council fully responsible for the decisions taken.

Effective mechanisms

The evidence emphasizes the necessity of setting clear policies to address the conflict of interests, by disclosing any possible or actual conflict, and taking transparent contractual decisions that ensure the protection of the endowment from any illegal exploitation.
It calls for the adoption of strict policies that prevent any bias or favoritism in the management of endowments, in a way that enhances justice among all parties concerned.
The evidence emphasizes the importance of providing effective communication channels with stakeholders, and organizing mechanisms to see information related to endowment activities and its actions. It is recommended to submit periodic reports to the supervisory and supervisory bodies on time, in a way that establishes the principle of rational governance and contributes to ensuring the sustainability of the endowments.