JEDDAH: The General Authority of Islamic Affairs and Endowments (GAIAE) launched its first initiative, the Endowment Investment Funds project, on Sunday, to organize, maintain, and develop endowments and manage yields.
Through this project, GAIAE aims to contribute to achieving the financial sustainability of endowment and non-profit bodies and encourage the endowments sector to meet development needs.
Ahmed bin Sulaiman Al-Rajhi, chairman of GAIAE and minister of labor and social development, commended the launch of the first endowment investment funds project.
GAIAE aims to improve the endowments sector in Saudi Arabia, raise awareness of the importance of endowments, and direct banks to support development.
GAIAE Gov. Imad El-Kharashi said: “The project contributes to renewing endowments’ developmental role through a creative investment endowment product that plays a part in achieving the financial sustainability of non-profit and endowment bodies, according to a complete regulatory framework.
“It also empowers the non-profit sector and enhances its developmental contributions, creates community participation opportunities, and meets the community’s economic and social development needs through investing in the funds of the Endowment Fund and using the Fund’s returns to finance the projects and programs of non-profit bodies according to the endower’s requirement.
“In addition, these funds aim to improve investment, governance, transparency, and disclosure in the Department of Endowments.”
El-Kharashi said that the funds would help raise the non-profit sector’s contribution to the gross domestic product (GDP) and increase transparency in non-profit activities, based on the funds’ compliance with the requirements of the Investment Funds Regulations, issued by the Capital Market Authority.
These endowment investment funds have an unlimited duration and suspended and non-current units available to be traded by the public. Their returns are given to funds' beneficiaries according to the endower’s requirement that qualified non-profit bodies can benefit from them according to the controls and conditions set by GAIAE.
GAIAE published earlier on its website the draft instructions issued for the Funds and requested feedback from the public to work on improving these standards.
The instructions also listed the parties who will benefit from these funds, the requirements for obtaining licenses, and the mechanism of the management and structure.
GAIAE aims through its strategy— which includes more than 34 initiatives— to empower the endowments sector and improve its role in society in addition to strengthening its partnerships with various stakeholders in order to motivate the sector, address the challenges it faces, and simplify procedures.
GAIAE looks forward to being the main supporter in improving the endowments sector in Saudi Arabia and to an enhanced role in social and economic development, according to the purposes of the Islamic law and the Kingdom’s Vision 2030.
Saudi Islamic affairs body launches Endowment Investment Funds project
Saudi Islamic affairs body launches Endowment Investment Funds project
- The project contributes to renewing endowments’ developmental role through a creative investment endowment product that plays a part in achieving the financial sustainability of non-profit and endowment bodies
- These endowment investment funds have an unlimited duration and suspended and non-current units available to be traded by the public
‘Cake not hate’ campaign becomes ‘Dates not hate’ in Madinah
- Dan said he was very impressed by Saudi hospitality and that his family was warmly welcomed
- He said being in Madinah exposed him to the true diversity of Islam
LONDON: A British autistic and non-verbal boy who has been visiting UK mosques and distributing cakes to promote solidarity amid an increase in far-right support in the country has taken his message of love to Madinah.
Joshua Harris, or “The Joshie-Man” as the 12-year-old is known to his social media fans, has handed out hundreds of his baked goods to worshipers at mosques in major British cities over the last few months.
The “Cake not hate” campaign came about after an Islamophobic attack on a mosque in his home city of Peterborough in October 2025.
Harris and his father visited Masjid Darassalaam, the mosque that was targeted, with cakes that the boy had baked and distributed them to the congregation soon after the attack. Since then, Harris has visited dozens of mosques in the UK.
On a recent trip to the Middle East, he and his father visited Madinah. In a local twist that pays tribute to the holy city’s famous date varieties including ajwa and ambar, Harris handed out dates to people in the courtyard of the Prophet’s Mosque. The “Cake not hate” campaign became “Dates not hate” for Saudi Arabia.
“He was greeted really, really warmly. There were some really touching moments where people were kissing his hands and his head. It was really lovely,” his father, Dan Harris, said.
Dan, the founder of global charity Neurodiversity in Business, said being in Madinah exposed him to the true diversity of Islam.
“We met people from all around the world. It was amazing. It’s like the United Nations there, you get people from different countries and it just goes to show you that the Muslim community, or the Ummah more generally, is not a homogeneous group,” he said.
“We saw people from Tajikistan and Uzbekistan and it was really interesting for us.”
Dan said his visit to Madinah, considered the second holiest city in Islam after Makkah for Muslims, was “profound and life-changing.”
He added: “I would say it’s my favourite city in the world due to the peace and tranquillity I felt there.”
Dan added that he was very impressed by Saudi hospitality: “Everywhere we went, people were taking down my number and insisting that we come for dinner, insisting they pick us up from the location. They were extremely attentive to Joshie as well, making sure his needs were met. We felt a great sense of welcome, something Saudi Arabia is known for.”
