Non-Profit Sector in Saudi Arabia Witnesses Rapid Growth in Early 2024

Non-Profit Sector in Saudi Arabia Witnesses Rapid Growth in Early 2024
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Non-Profit Sector in Saudi Arabia Witnesses Rapid Growth in Early 2024

Non-Profit Sector in Saudi Arabia Witnesses Rapid Growth in Early 2024

The National Center for the Development of the Non-Profit Sector in Saudi Arabia announced on Sunday the latest developments in the growth of the non-profit sector for February 2024.

The sector witnessed the registration of 56 private associations, eight private institutions, and 21 family funds in various priority development areas and several regions across the Kingdom.

The total number of registered non-profit entities in the Kingdom is now 4,656. The number of volunteers in 2024 has also reached over 113,000 in various fields, with over 4 million volunteer hours and 43,000 volunteer opportunities.

The center highlighted the continuous growth of the non-profit sector in terms of the number of non-profit entities, the number of volunteers, and the increase in the number of technical supervisory units in government agencies.

The center pointed to the progress achieved through the collaboration of all entities in the non-profit sector system and the development observed in the governance of non-profit entities, which achieved advanced levels of governance in 2023. This confirms the commitment of the sector's entities to comply with the targeted development roles.

As part of its supervisory and regulatory role, the center has issued decisions against several non-profit entities and individuals since the beginning of 2024. They included 11 warnings to civil associations, two decisions to dismiss the board of directors of a civil association, two decisions to reform the interim board of directors, the dissolution of two civil associations, and the start of their liquidation, and the referral of four civil associations to the Public Prosecution.

The center emphasizes the importance of non-profit entities' commitment to the rules and regulations, guidelines, and procedures governing the non-profit sector. It invites all non-profit entities to communicate through customer care channels via the unified call center 19918, its website, and its social media accounts.

The center stresses the need for integration between it and non-profit entities to contribute to the development of the non-profit sector and maximize the social and economic impact of the sector to achieve the desired national goals.

The National Center for the Development of the Non-Profit Sector aims to organize and activate the role of non-profit sector entities, expand them in development areas, and work on integrating government efforts in providing licensing services to these entities, financial and administrative supervision of the sector, and increasing coordination and support.



Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.