President of Endowment Authority reveals Authority’s intention to establish a waqf investment project during the year 1445 AH

The President of the General Authority of Endowment scholar Abdulmajid Abdulrahman Al-Houthi has unveiled an investment project that the Authority intends to implement over the next year 1445 A.D.

Al-Houthi scholar said in a press interview with the Yemeni News Agency (Saba), which will be published later, that the project is to establish Al-Sammad medical towers that will be implemented at an important site in the security of the capital.

He said: “The Authority will open the door to subscribing to this project to anyone who wishes to participate in it, whether with investment shares for the financial benefit of its owner or with endowment shares of God, which are allocated to a specific bank by its owner.”

The Endowment Authority had established standards for dealing with Awqaf lands tenants and had initially begun to apply those standards, which would take account of the differences between rich and poor.

The President of the Awqaf Authority confirmed that the rents of the insolvent who rented waqf land for the purpose of building residential houses have a special status and will be treated in accordance with those standards and regulations that will take into account their physical situation. The Authority is working to correct the stereotypical and inadequate attitudes towards endowments, which cause society’s reluctance to stop.

He pointed out that the steps taken by the Authority are focused on correcting the role of Waqfs as an important and vital resource for social and economic development and returning the Waqfs to its normal course to ensure adherence to the commandments of the Waqfs.

Al-Houthi reported that the poor, the poor, the vulnerable and the general citizen will soon be touching the fruit of the vital role assigned to Waqf, which will be carried out in accordance with the national vision and the implementation of the directives of the revolution leader Sayyid Abdulmalik al-Houthi and the head of the Supreme Political Council.

Source: Yemen News Agency