Al-Othaim Charity Foundation presents an endowment portfolio worth 10 million riyals, the proceeds of which are allocated to support the programs and activities of the Private Endowments Support Association

07-11-23

Al-Othaim Charity Foundation has approved an endowment portfolio worth 10 million riyals, the proceeds of which are allocated to support the programs and activities of the Private Endowments Support Association.

Mr. Abdullah bin Saleh Al-Othaim, Chairman of the Board of Trustees, explained that the donation to establish this investment portfolio comes in support of the spirit of social cooperation and solidarity, and participation in sustaining the charitable giving, which is a hallmark of our blessed country. Our Kingdom has become a model to be emulated for its virtues of generosity and giving, under the leadership of our Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the pioneer of charitable and humanitarian work, and His Royal Highness the Crown Prince, Chairman of the Council of Ministers, Prince Mohammed bin Salman bin Abdulaziz Al Saud - may Allah protect them - the architect of Vision 2030, which aimed to enhance the social impact of the non-profit sector, increase its contribution, and enable its transition towards institutionalization and sustainability.

Al-Othaim praised the Private Endowments Support Association as a pioneer among associations, being the first charitable association specialized in endowments under the supervision of the General Authority of Endowments. He expressed his wishes that Allah would grant success to those responsible for its affairs in enhancing its journey as it undertakes the launch of a number of qualitative initiatives that contribute to empowering and developing endowments.

It is worth noting that Al-Othaim Charity Foundation is one of the charitable institutions that focuses on sustainable charitable work to serve the community. It works on sustaining benefits and maximizing the desired developmental impact by directing attention to charitable endowments invested in securities, which can address many of the community's problems and achieve the principle of solidarity among its various segments.