28 Safar 1444 - 24 September 2022
    
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Eye of Riyadh
Business & Money | Sunday 6 March, 2022 3:09 pm |
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Saudi Ministry of Human Resources and Social Development and Jadwa Investment launch funds to develop non-profit sector

The Saudi Ministry of Human Resources and Social Development and Jadwa Investment, a leading investment management and advisory firm in Saudi Arabia and the wider region, jointly announced the establishment of two investment funds to further develop the non-profit sector at a launch event hosted by the Ministry in Riyadh last week.

 

Through these two investment funds, the Jadwa Balanced Fund for Social Development and the Jadwa Conservative Fund for Social Developmentthe Ministry and Jadwa will offer all non-profit organizations licensed by the Ministry a Shariah-compliant investment platform that aims to preserve and grow their capital over the long term.  

 

Participating non-profit organizations will have a choice between balanced and conservative strategies to invest their capital across asset classes. As sole fund manager, Jadwa will provide strategic and operational support to ensure that the invested capital is managed in line with their investment objectives, risk appetite and liquidity requirements.  

 

Majed AlGhanmi, Vice Minister, said, “Non-profit organizations play an important role in any society. Their programs serve, assist and empower disadvantaged individuals, families, and communities across the Kingdom. The Ministry is keen to develop the financial resources and capabilities of non-profit organizations, and to empower them to achieve their goals by expanding and diversifying their sources of income.” Commenting on the Ministry’s selection of Jadwa as sole fund manager, he added, “We chose Jadwa Investment because of its distinctive capabilities, investment track record, and proven support for social development.”

 

Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said: “The Kingdom’s non-profit organizations deserve world-class investment management that enables them to expand their financial resources and maximize their social impact. We are honored by the opportunity to partner with the Ministry of Human Resources and Social Development on this vital initiative, and are gratified by its trust in Jadwa to help achieve the Kingdom’s social development objectives and contribute to the advancement of the Saudi non-profit sector.” 

 

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