First Endowment Fund in Saudi Arabia to Empower Family Launched

Riyadh, Under the patronage of Prince Khaled Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region, the "Mawaddah Society for Family Development" launched the first endowment fund in the Kingdom to empower the family...

Riyadh, Under the patronage of Prince Khaled Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region, the "Mawaddah Society for Family Development" launched the first endowment fund in the Kingdom to empower the family, with a value of SAR 50 million.

This fund works in partnership with the General Authority of Endowments and the National Platform for Charitable Work, Ehsan, of supporting 1,000 families socially, psychologically and economically every year. It contributes to covering the costs of programs and services provided to families, in addition to contributing to covering part of the operating expenses of the society, and achieving financial sustainability.

Source: Saudi Press Agency