Muscat: Saudi Arabia and Oman signed today a memorandum of understanding (MoU) in Muscat to strengthen bilateral cooperation in the field of Awqaf (endowments). The signing reflects the strong relations between the two countries and their shared commitment to exchanging expertise and enhancing the performance of endowments to serve mutual interests.
According to Saudi Press Agency, the MoU was signed by Governor of the General Authority for Awqaf Emad bin Saleh Al-Kharashi on behalf of the Kingdom, and Undersecretary of the Ministry of Endowments and Religious Affairs Ahmed Saleh Al-Rashidi on behalf of Oman. The memorandum aims to foster cooperation in exchanging scientific and practical expertise in endowment affairs, documenting them, and strengthening their role in societal and economic development. It also seeks to share experiences related to endowment systems and management, ways to protect and develop them, and mechanisms for disbursement and investment.
The MoU further provides for the exchange of publications, research, and periodicals in endowment studies, as well as the organization of joint events such as conferences, seminars, and workshops. Both sides also agreed to benefit from accounting, investment, administrative, and technical systems applied in the sector in each country.
In addition, the terms of the memorandum include the exchange of training courses, the organization of expert visits, and the promotion of cooperation in scientific research. These measures are expected to contribute to advancing the endowment sector, raising its efficiency, and maximizing its impact on communities.