Under the sponsorship of His Excellency the Governor of the General Authority of Endowments, "Investing in the Future" company and "Jadwa Investment" company signed a partnership agreement on Tuesday at the headquarters of the Authority. This agreement aims to launch two investment funds dedicated to charitable and nonprofit organizations in the Kingdom of Saudi Arabia. These funds are the "High Liquidity Future Investment Fund" (open-ended) and the "Alternative Investments Future Investment Fund" with a size of 50 million Saudi Riyals.
These funds will serve as investment tools for charitable and nonprofit organizations in the Kingdom, with the funds being invested in a diversified investment portfolio. The goal is to achieve long-term returns, generate and diversify income, and increase capital gains.
The sponsorship by the Governor of the General Authority of Endowments is part of the Authority's commitment to activate partnerships that contribute to the development of the endowment sector, stimulate it to diversify its investment products, achieve financial sustainability, and enhance resources. This, in turn, improves the financial performance of the endowment and nonprofit sector, contributing to the overall development.
It's worth mentioning that the General Authority of Endowments works to regulate and preserve the endowment sector, improve services provided to beneficiaries, and enhance the endowment's role in economic and social development, in accordance with Islamic Sharia and applicable regulations. This aligns with the aspirations of the wise leadership to make the Kingdom a leader in the endowment and nonprofit sector.