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-  Leaders in Philanthropy Development Meeting

October 31, 2016


Around thirty leaders of philanthropy work in the Eastern province met at Sheikh Ali Almajdouie’s Diwaniyah last Friday.

Around thirty leaders of philanthropy work in the Eastern province met at Sheikh Ali Almajdouie’s Diwaniyah last Friday. The meeting was organized by Almajdouie foundation. HE Dr. Salim Al Daini, Deputy of Social Development at Ministry of Labour and Social Development was the honorary guest at the meeting. The challenges that are facing all the ministries were highlighted at the meeting, and the most prominent challenges facing the Ministry of Labour and Social Development (formerly known as Social Affairs) is the limitation of contribution in development from the non-profit sector.

The strategic planning to enable and build the complete pillars of the non-profit sector discussed during the meeting can be summarized in the following:

The seven enablers for the charitable sector:

1.      Institutional system

2.      Information provided for decision making

3.      Human Resources

4.      Technical administration

5.      Community support

6.      Financial management

7.      Transparency and governance

To ensure the sustainability of charitable organizations financially a portfolio worth 900 million riyals was launched in partnership with Saudi Credit & Saving Bank to lend to charities to facilitate access to their own endowments, and its business model is as follow:

· The charity to provide 25% of the value of the endowment.

· The portfolio will provide a grant to the charity in the amount of 25% of the value of the endowment.

· The portfolio to provide financial loan worth 50% of the value of endowment and charity to pay back.


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