Saudi Authority for Accredited Valuers taking lead at endowments forum

With the support of Saudi Minister of Islamic Affairs, Endowment, Dawa and Guidance Al Sheikh Saleh bin Abd al aziz Al Sheikh, the Saudi Authority for Accredited Valuers (Taqeem) had an active role in the third forum of organizing religious endowments.

Authority Secretary General Issam Al Mubarak was scheduled to deliver "The Valuation Authorities and their Roles in Maintaining Endowments" worksheet on Monday, the second day of the two-day forum in Riyadh organized by the Riyadh Chamber of Commerce and Industry Endowments Committee. 

The purpose of the worksheet is to identify the significance of the valuation authorities in supporting and creating endowments, as well as clarifying the role and benefits of valuation.

“We are fully aware of the high value which will be provided by the forum through the worksheets, which will be presented in the framework of the legislative and legal environment studies for the endowments projects in kingdom of Saudi Arabia,” Al Mubarak said.

Al Mubarak will discuss the services and facilities used during the forum to help achieve the goals set by the organizers. The event hosts a diverse crowd, including specialized judges and key contributors and researchers in the industry, with the goal of developing and strengthening the endowments sector.

“We were keen to participate in the forum in his third period, addressing all the participants and the attendance, introducing them the strategic dimensions of valuation according to the international standards,” said Al Mubarak. “Six hundred forty-one people have gained the temporary membership from the authority till now, and they will have noticeable and prominent role in the Saudi market generally and particularly in the endowments field.”

Achieving the main goal of the forum will require collaboration among different segments of the endowments field. Al Mubarak assured all participants that the Saudi Authority understands the significance of teamwork and communication for the purpose of progressing the valuation profession in the kingdom.

The forum also consisted of documentation pertaining to the Endowments Charity, the anticipated role of general authority of Awqaf, the instrument of endowment, the most current applications in the endowment investments and many other related topics.