Muscat: The Sultanate of Oman and the Kingdom of Saudi Arabia today signed a Memorandum of Understanding (MoU) in Muscat aimed at enhancing bilateral cooperation in the endowment sector. The signing of the MoU comes within the framework of the strong fraternal relations between the two sisterly countries and their mutual commitment to exchanging expertise and improving endowment performance to serve shared interests.
According to Oman News Agency, the MoU was signed on behalf of the Sultanate of Oman by Ahmed Saleh Al Rashidi, Undersecretary of the Ministry of Endowments and Religious Affairs, and on behalf of the Saudi side by Emad bin Saleh Al Kharashi, Governor of the General Authority of Awqaf in the Kingdom of Saudi Arabia.
The MoU aims to activate cooperation between the two sides in the areas of exchanging scientific and practical expertise in endowment affairs, documentation, and enhancing the role of endowments in community and economic development. It also covers the exchange of experiences related to endowment systems and management, methods of protecting and developing endowments, and mechanisms for their disbursement and investment.
The agreement stipulates encouraging both sides to exchange publications, research, and specialized periodicals in endowment studies, organizing joint events such as conferences, seminars, and workshops, and benefiting from the accounting, investment, administrative, and technical systems used in both countries in this field.
The MoU’s provisions also include exchanging training courses, organizing expert visits, and enhancing cooperation in relevant scientific research, thereby contributing to the advancement and efficiency of the endowment sector and maximizing its impact on societies.