JEDDAH: The General Court here has relieved the supervisor of a SR600 million Waqf (endowment) in Jeddah from his position and appointed his sister in his place.
The endowment, located in the center of Jeddah, consists of a large commercial building comprising 400 shops and a mega mall.
It was turned into an endowment by a businessman, now deceased, and appointed into the care of his children who were asked to distribute 20 percent of its proceeds to the poor.
The court made its decision after the man’s siblings submitted evidence accusing their brother of fraud.
It also called on the concerned authorities to investigate the outgoing supervisor for embezzlement. The court also appointed a chartered accountant to audit the accounts of the endowment until its new supervisor takes office.
The lawyer representing the outgoing supervisor objected to the verdict, saying he would appeal. His siblings, however, welcomed the ruling.
Court sources said the case dates back to six years ago when the inheritors of a famous businessman filed a lawsuit against their eldest brother accusing him of fraud, denying them their financial rights and not distributing 20 percent of the endowment’s revenue in alms as their father willed.
The court asked the inheritors to select a new supervisor and so the siblings selected their eldest sister.
This is the first time a woman has been appointed the supervisor of an endowment.
