RIYADH: Saudi Arabia’s endowment investment funds have experienced significant growth, with the number of licensed funds increasing by 13 in 2023, reaching a total of 24, as reported by the General Authority of Awqaf.
In a newly released report, the authority revealed that this expansion has pushed the net assets of endowment investment funds in the Kingdom beyond the SR500 million ($133 million) milestone for the current year.
This aligns with the government’s strategic objectives to advance the financial sector and streamline the licensing processes for various products.
Source: Arab News
