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Business and FinanceReligion and Community

Shura Council Discusses Draft Law on Endowment

02 Feb, 2021 12:03 PMAl Sharq Newspaper, The PeninsulaIntended Audience
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News Details

The Shura Council (Advisory Council) held its regular weekly meeting yesterday, Monday, 1 February 2021 under the chairmanship of HE Speaker of the Shura Council Mr. Ahmed bin Abdullah bin Zaid Al Mahmoud.

During the session, the Council discussed a draft law on endowment (Waqf) that includes (9) 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 the discussion, the Council decided to refer the abovementioned draft law to the Legal and Legislative Affairs Committee to discuss and submit a report thereon to the Council.

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