Agreement signed to develop Saudi Arabia’s endowment sector

The agreement aims to increase revenues of awqaf investments and increase the efficiency of endowments’ impact. (SPA)
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Updated 28 December 2019
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Agreement signed to develop Saudi Arabia’s endowment sector

  • The agreement aims to activate the investment and non-profit sectors to promote and enhance contributions to economic and social development in the Kingdom.

DAMMAM: An agreement has been signed to develop the Kingdom’s awqaf (endowment) sector, the Saudi Press Agency reported.

The memorandum of cooperation was signed between Asharqia Chamber, one of Saudi Arabia’s oldest organizations promoting private sector contributions to the economy, and the General Authority for Awqaf, an independent authority set up in 2015.

In Islam waqf is a permanent donation of one’s wealth or portion of it, in cash or other assets, to Allah and can be used for purposes compliant with Islamic law such as building religious schools or mosques.

The agreement aims to increase revenues of awqaf investments and increase the efficiency of endowments’ impact. 

The chairman of the board of directors of Asharqia Chamber, Abdulhakeem bin Hamad Al-Ammar Al-Khalidi, and General Authority for Awqaf Gov. Emad bin Saleh Al-Kharashi signed the memorandum.

Al-Kharashi said integration between different sectors was essential for society and that the authority was creating communication channels to develop the organization.

Al-Khalidi said the government had set out its future vision for the awqaf sector so it became a pillar for sustainable development.

The agreement also aims to activate the investment and non-profit sectors to promote and enhance contributions to economic and social development in the Kingdom.
 


UNESCO honors Al-Bisht Al-Hasawi as thousands flock to Al-Ahsa festival

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UNESCO honors Al-Bisht Al-Hasawi as thousands flock to Al-Ahsa festival

RIYADH: The third edition of Al-Bisht Al-Hasawi Festival is drawing thousands of local and international visitors to Ibrahim Palace in Al-Hofuf.

Running until Feb. 7 at the historic palace, the event features a bisht exhibition, a rare bisht gallery, a handicrafts zone and workshops led by skilled artisans.

The festival showcases a convergence of cultures, with international pavilions highlighting the global appeal of this authentic Saudi heritage. 

The bisht’s allure has drawn international visitors eager to explore Al-Ahsa’s rich history and traditional crafts.

Tourists enthusiastically don the traditional robe, admiring its royal designs. Many participate in workshops with master artisans, learning the intricate art of Zari embroidery.

Organized by the Heritage Commission, this year’s festival celebrates the inscription of the bisht on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity, the Saudi Press Agency reported.

The event showcases Al-Ahsa’s centuries-old tradition of hand-weaving and gold embroidery, a craft passed down through generations of local families.

Visitors can explore interactive displays, participate in live workshops, and witness the meticulous process of tailoring this iconic symbol of prestige.

With UNESCO’s participation and representatives from six countries, the festival has evolved into a global platform for cultural dialogue, cementing the bisht’s status as a world-class cultural treasure.

At the heart of the festival is the story of the “Golden Threads” (Al-Zari), intricate gold-plated silver threads that define the bisht’s character and prestige.

Visitors can discover them in the Golden Threads VIP Area, where they can watch master artisans demonstrate the full bisht-making process at the Host’s Majlis, offering insight into Al-Ahsa’s centuries-old craftsmanship.