Money and business
Al -Qweaz: Endowment boxes double within a year and amount to 2.2 billion riyals
The Chairman of the Council Saudi Arabia, Muhammad Al -Qwaiz, that are still in their early stages of growth, as their value is currently about 2.2 billion riyals only, equivalent to 1% of the total volume of investment funds in the Kingdom, which is about 750 billion riyals." The General Endowments Authority , that the total assets of the asset management sector-whether managed by institutions, individuals or companies-exceeded 1.1 trillion riyals, indicating that investment funds account for the largest share of these assets." align ="center" Class ="twitter-tweet" Data-DNT ="True">
9 boxes worth 400 million .. The assets of endowment investment funds
accelerated growth and showed that endowment funds began to record remarkable growth, as their value doubled in only one year; As it increased from about one billion riyals in the past year to 2.2 billion riyals today, which reflects a rapid expansion that is expected to enhance its role in societal development. Quantitative; It is no longer limited to real estate or traditional assets. Rather, it has become the suspended investment funds that achieve greater financial returns for the beneficiaries, in addition to the trend towards stopping the investment portfolios as a new mechanism to support endowment activities. The contribution of the non -profit sector to the GDP, pointing out that the endowment funds – whose units are suspended – are committed to all the requirements contained in the investment funds regulations issued by the authority, where their money is invested and its proceeds are paid to the beneficiaries in a manner that guarantees sustainability and enhances integration with national development efforts - For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
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