Oman Waqf Conference to kick off December 16

First edition Oman Waqf Conference “Innovation and Sustainability” from December 16

Muscat: The first edition of the Oman Endowment Conference will kick off on December 16 under the theme “Innovation and Sustainability”, with the aim of promoting innovation and sustainability in the endowment sector in the Sultanate of Oman. The conference will continue for two days at the Oman Convention and Exhibition Centre.

Abdul Aziz bin Masoud Al Ghafri, Assistant Director General of Endowments and Bait Al Mal at the Ministry of Endowments and Religious Affairs, said during the press conference held today at the ministry’s headquarters: The conference aims to provide innovative and sustainable solutions that contribute to achieving the goals of Oman Vision 2040, by focusing on the axes of innovation in rainmaking technologies and endowment investments, and linking these innovations to the sustainability of endowments and their positive impact on society.

He added that the conference seeks to bring about a qualitative shift in the endowment sector by enabling endowment institutions to take the lead in achieving development and consolidating the role of endowment as an effective tool to support the national economy.

He pointed out that the conference includes a number of working papers and sessions that highlight innovation in endowment rainmaking and innovation in endowment investments, in addition to reviewing local, regional and international experiences in innovation and endowment sustainability. It also holds sessions on an innovative and sustainable vision for the relationship between endowment and charitable work, focusing on enhancing integration between them to achieve greater impact.

For his part, Eng. Mohammed bin Salem Al Busaidi, CEO of Bousher Endowment Foundation, explained that the endowment sector is witnessing great interest from the government represented by the Ministry of Endowments and Religious Affairs and the community represented by public and private endowment institutions.

Statistics indicate that there are more than 36,000 endowments in the Sultanate of Oman, in addition to more than 55 public and private endowment institutions.

He pointed out that the large number of endowments and endowment institutions reflects the vital role played by endowments in economic and social development in the Sultanate of Oman, and highlights the need to enhance cooperation between these institutions and explore innovative solutions to ensure the sustainability of endowment revenues and maximize their impact on society.

He stated that the conference will include the participation of more than 20 speakers from local and international experts, and the holding of specialized workshops to provide workers in the endowment sector with the necessary practical skills and tools, including “Governance, Performance Indicators, Risk Management, and Compliance in the Endowment Sector (GPRC)”, a session on “Contemporary Endowment Investment”, and another on “Measuring Social Return on Investment”.

It is worth noting that the conference is organized by the Ministry of Endowments and Religious Affairs in cooperation with the Bousher Endowment Foundation, with the aim of achieving an impact in developing the endowments sector and enhancing its role in sustainable development.