Regulation on the Establishment of Waqf Investment Portfolios · Article 5: Establishment of the Waqf Investment Portfolio

1.The applicant must primarily submit a waqf investment portfolio registration request to the Authority, which must include:

1.Endower’s conditions.

2.Information on the Endower(s) and Trustee(s).

3.Mechanisms for returns distribution, disbursement procedures, and reinvestment.

1.The requirements listed in section (A).

2.Investment strategy, policies, and nature of investments and assets invested in by the private waqf investment portfolio.

3.The level of risks to which the Private Waqf Investment Portfolio is exposed, considering the waqf nature, spending, and interests.

4.Mechanisms for returns distribution and reinvestment.

5.Applicable fees.

6.Any additional requirements as determined by the Authority.

2.The Authority will review the request and issues a decision within ten (10) business days, either approval, conditional approval, or rejection, with reasons provided.

3.The applicant must submit the final version of the Management Agreement to the Authority after the portfolio’s opening and within ten (10) business days of the agreement date.