Saudi Arabia And Oman Strengthen Bilateral Ties With New Endowment Cooperation Agreement

Saudi Arabia and Oman have formalised a memorandum of understanding (MoU) in Muscat to enhance collaboration in the field of Awqaf, or endowments. This agreement underscores the robust ties between the two nations and their mutual dedication to sharing expertise and improving endowment performance for shared benefits.

The MoU was signed by Emad bin Saleh Al-Kharashi, Governor of the General Authority for Awqaf, representing Saudi Arabia, and Ahmed Saleh Al-Rashidi, Undersecretary of the Ministry of Endowments and Religious Affairs, representing Oman. The agreement aims to bolster cooperation in exchanging scientific and practical knowledge related to endowment affairs.

The memorandum outlines plans for sharing experiences concerning endowment systems and management. It also includes strategies for protecting and developing these systems, along with mechanisms for disbursement and investment. Both countries aim to learn from each other's accounting, investment, administrative, and technical practices within the sector.

Additionally, the MoU promotes the exchange of publications, research, and periodicals focused on endowment studies. It encourages organising joint events such as conferences, seminars, and workshops to facilitate further knowledge sharing between the two nations.

The agreement also covers the exchange of training courses and expert visits. These initiatives are designed to foster cooperation in scientific research related to endowments. By doing so, both countries hope to advance their respective endowment sectors.

These collaborative efforts are expected to enhance the efficiency of endowments and maximise their positive impact on communities. The focus is on raising awareness about the importance of endowments in societal and economic development.

This partnership reflects a shared vision between Saudi Arabia and Oman to strengthen their relationship through meaningful collaboration in religious affairs. By working together, they aim to achieve significant progress in managing endowments effectively.

With inputs from SPA