Business & Money | Sunday 6 November, 2016 2:15 am |

Labor and Social Development Minister Dr. Mufrej Al-Haqbani stressed the importance of developing the performance of the nonprofit sector in the Kingdom so as to activate the sustainable socio-economic development, its resources and developing its resources, Saudi Press Agency (SPA) reported Saturday.

Dr. Al-Haqbani said that this comes within the achievement of the objectives of the National Transformation Program 2020 and the Kingdom Vision 2030. He stressed the importance of the sector to benefit from the successful local, regional and international experiences.

Dr. Al-Haqbani was speaking at the workshop organized in Riyadh on Friday by the ministry in cooperation with the Misk Foundation and Bill and Melinda Gates Foundation to discuss the current situation and future of the nonprofit sector. The minister said the citizen realizes the importance of the functions of endowments (waqf) as one of the major tributaries of the nonprofit sector. He said that the citizen is looking forward to higher credibility and consolidation of the work of endowments. This contributes to bolstering the role of the nonprofit sector so as to become an effective pivot in the comprehensive national economic development.

Dr. Al-Haqbani said the workshop comes within the cooperation agreement signed by Deputy Crown Prince Muhammad Bin Salman, second deputy premier, minister of defense and chairman of the board of directors of Misk Charitable Foundation. The agreement was also signed by the Ministry of Labor and Social Development with Bill and Melinda Gates Foundation. The aim of the agreement is to train leading Saudi figures working in the philanthropic field, to transfer the best means of governance to the charitable institutions in the Kingdom.