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Instructions for Approval to Establish Waqf Investment Funds · Article 1: Definitions

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Unless the context requires otherwise, the terms and expressions listed below shall, wherever mentioned in these Instructions, have the meanings indicated next to each of them below:

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Law · Approved version 2 · Knowledge version effective from 2026-10-19

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Shared sources
Source type
Law
Issuing body
الهيئة العامة للأوقاف
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2

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Article 1: Definitions

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Unless the context requires otherwise, the terms and expressions listed below shall, wherever mentioned in these Instructions, have the meanings indicated next to each of them below:

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The Authority (GAA): The General Authority for Awqaf.

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Instructions: Instructions for approval to establish waqf investment funds.

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The Fund: A waqf investment fund with all its units endowed.

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The Endower (Waqif): The person who establishes the waqf.

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The Trustee (Nazir): The board of directors of the fund.

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The Beneficiary: One or more non-profit entities licensed within the Kingdom.

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Fund Manager: A person licensed by the Capital Market Authority (CMA).

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The Regulation: The Investment Funds Regulation issued by the Capital Market Authority (CMA).

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