RIYADH, 22 March 2005 — Abandoned endowments could be profitably invested in viable ventures to generate regular income, a senior judge said here yesterday. His remarks came in a speech on the second day of a three-day symposium on “Rulings and Endowments” which was inaugurated by Riyadh Governor Prince Salman on Sunday.
The event is being held under the sponsorship of the Ministry of Islamic Affairs, Endowments, Call and Guidance. Prominent scholars and key government officials are attending the forum, which focuses on the latest regulations on the management of endowment properties.
“It is sad to note that several endowments are left without proper management due to the demise of the donors or negligence of the executors. These immovable properties could be properly made use of by the ministry in order to get good income,” said the Supreme Court Judge of Al-Ahsa, Abdul Baki M. Alsheikh Mubarak.
He added that income from these properties could be spent in deference to the wishes of the deceased donors. Various lawful investment opportunities are available in the market where these properties could be exploited for the benefit of deserving charities.
Explaining the concept of “Sadaqathul Jariya”, Sheikh Mubarak said it is a charitable deed where the donor will be richly rewarded even after his death. These types of charities, he said, include construction of mosques, schools and wells which the public make use of even after the donor’s death.
Abdul Aziz Al-Salih said the meeting provided a good opportunity for the participants to understand the correct concept of endowments and also to develop and regulate the management aspects of endowments.
He said the Ministry of Islamic Affairs has embarked on a nationwide campaign to educate the masses on the significance of endowments and its rewards for the donors.
In his speech to the forum on Sunday, Minister of Islamic Affairs Saleh Alsheikh called for the private sector participation in the management of endowments. The ministry, which manages around 100,000 endowments, would also organize seminars and lectures to enlighten the trustees of endowments on their duties and obligations according to Islam.
