The Shura Council, under the chairmanship of Speaker HE Ahmed bin Abdullah bin Zaid Al Mahmoud, discussed yesterday the report of the Legal and Legislative Affairs Committee on a draft law on endowment (Waqf).
The draft law includes nine chapters and 58 articles and involves provisions related to the establishment of the endowment, its distributions and conditions, the civil endowment and the supervision of the endowment, its maintenance, architecture and investment.
The draft law comes to replace Law No 8 of 1996 regarding endowment, in the framework of updating legislations to keep pace with developments in this regard. After an extensive discussion on the committee’s report, the Council decided to approve the draft law and to refer its recommendations to the government.
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