KUWAIT: The General Secretariat of Endowments announced on Wednesday that the Endowments Affairs Council held its 103rd meeting, chaired by Minister of Justice and Minister of Endowments and Islamic Affairs Dr Mohammad Al-Wasmi, at the Secretariat’s headquarters in Dasma.

The Secretary of the Endowments Affairs Council and Director of the Planning and Follow-up Department at the General Secretariat, Jassim Bugaith, said in a press statement that the Council discussed many topics, reviewed, and approved several reports, namely the report on the achievements of the work units of the General Secretariat of Endowments for the year 2023, the annual achievement report of the Sharia Committee for the year 2023, the annual endowment projects committee for the year 2023, in addition to the annual audit committee report for the year 2023.

Secretary of the Endowments Affairs Council, Director of the Planning and Follow-up Department at the Secretariat, Jassim Bugaith

Bugaith added that the report on what was accomplished in the preparatory year 2022 was reviewed and approved in the document of the strategic plan of the General Secretariat of Endowments for the years 2023–2028, in implementation of Endowments Affairs Council Resolution No. 99. Bugaith explained that the Council meets at least four times a year or when needed, and it is the Supreme Authority supervising endowment affairs that makes the necessary decisions and achieves the purposes for which the Secretariat was established.

He explained that the Council is concerned with drawing up the general policy for managing and investing endowment funds, setting systems and regulations that ensure the development of endowment revenues and their regular collection, and maintaining and preserving endowment assets, in addition to approving the internal organization of the Secretariat.

The Council’s responsibilities also include approving the annual revenues and expenditures of endowment funds and their final accounts, selecting the Secretariat’s audit office, reviewing the periodic reports submitted by the Secretary-General on the progress of work in the Secretariat, and reviewing all matters related to the Secretariat’s activity that the Chairman of the Council deems necessary to present.

It is noteworthy that the Endowment Affairs Council, headed by the Minister of Endowments and Islamic Affairs, includes in its membership the Secretary-General of the General Secretariat of Endowments, the Undersecretary of the Ministry of Endowments and Islamic Affairs, the Director-General of the Social Insurance Institution, the Director-General of the Zakat House, a representative of the Ministry of Finance, and a representative of the Public Investment Authority, in addition to three members with experience and expertise. — KUNA