Muscat – The MoU reflects the deep fraternal ties between the two brotherly nations and their shared commitment to strengthening collaboration, exchanging expertise, and improving endowment performance to serve mutual interests.
The agreement was signed on behalf of the Sultanate of Oman by His Excellency Ahmed bin Saleh Al Rashidi, Undersecretary of the Ministry of Endowments and Religious Affairs, and on behalf of the Kingdom of Saudi Arabia by His Excellency Imad bin Saleh Al Kharashi, Governor of the General Authority for Endowments.
The memorandum aims to foster cooperation in areas such as the exchange of scientific and practical expertise in endowment affairs, documentation of best practices, and enhancing the role of endowments in driving social and economic development. It also covers the exchange of knowledge related to endowment systems, management practices, methods of protection and development, as well as mechanisms for disbursement and investment.

The MoU further encourages the exchange of publications, research, and periodicals specializing in endowment studies, and the organization of joint events including conferences, seminars, and workshops. It promotes the mutual use of accounting, investment, administrative, and technical systems applied in both countries.
The agreement also includes cooperation in training programmes, expert visits, and joint scientific research – efforts that are expected to strengthen the endowment sector, raise its operational efficiency, and enhance its positive impact on communities.