Saudi Arabia offers rewards of up to SR10 million for reporting unknown endowments

The General Authority for Endowments in Saudi Arabia has officially introduced a new regulatory framework aimed at identifying and reviving unknown or dormant endowments across the Kingdom. Under the newly established guidelines, individuals who report such assets may be eligible for a financial reward, capped at five percent of the property's total value, with a maximum payout of SR10 million.

According to the authority, the initiative is designed to create a comprehensive regulatory structure that ensures these assets are managed in accordance with the original intentions and conditions set by the donors. By formalizing the process for identifying these dormant properties, the government aims to contribute to their long-term sustainability and economic development within the Saudi landscape.

The regulations provide several avenues for the authority to identify these assets, including the review of public reports, coordination with judicial and government entities to access endowment data, and the processing of formal intervention requests. An endowment is classified as 'unknown' under these rules if it meets specific criteria, such as the absence of a designated trustee or the suspension of its beneficiaries.

This move is part of a broader effort by the Saudi government to modernize the management of charitable and religious endowments. By incentivizing the public to assist in the identification of these assets, the authority hopes to bring dormant resources back into active use, ensuring they continue to serve their intended social and religious purposes while aligning with the Kingdom's broader development goals.