The Alinma Wareef Endowment Fund has exceeded a market value of SAR 87 million according to Saudi Stock Exchange (Tadawul) data.
SPA reported that the General Authority for Awqaf honored the King Faisal Specialist Hospital Charity Foundation, known as Wareef Charity, with second place for having the second-largest capital for an endowment investment fund in Saudi Arabia. The recognition was presented during the Nomo Financial Sustainability Forum.
Launched in November 2018 through a partnership between Wareef Charity and Alinma Investment Company, the fund is the first publicly offered and open-ended endowment investment fund in the Kingdom. It operates as a sustainable financing vehicle where investment returns are directed toward financing specialized health initiatives.
The fund supports the strategic goals of Wareef Charity, including the treatment of patients in need, medical research, healthcare development, preventive health awareness programs, and the training of specialized healthcare professionals. These returns are channeled into healthcare services at King Faisal Specialist Hospital & Research Centre.
What recognition did Wareef Charity receive from the General Authority for Awqaf? The King Faisal Specialist Hospital Charity Foundation, known as Wareef Charity, was awarded second place for maintaining the second-largest capital for an endowment investment fund in Saudi Arabia. This recognition was presented during the Nomo Financial Sustainability Forum in acknowledgment of the Alinma Wareef Endowment Fund, which is the first open-ended and publicly offered endowment investment fund in the Kingdom.
How is the Alinma Wareef Endowment Fund structured and managed? The fund was launched in November 2018 as a partnership between Alinma Investment Company and Wareef Charity. It serves as a sustainable financing vehicle that allows institutions and individuals to contribute to healthcare support by investing endowment capital and directing the resulting financial returns toward specialized health initiatives in the non-profit healthcare sector.
What is the financial value and impact of the Alinma Wareef Endowment Fund? According to Saudi Stock Exchange (Tadawul) data, the market value of the fund has exceeded SAR 87 million. These funds are used to maximize endowment returns that are channeled into treatment programs, medical research, and the development of healthcare services specifically at King Faisal Specialist Hospital & Research Centre.