Sunni, Jaffari endowments to continue registering old endowments

The boards of directors of the Sunni and Jaffari endowments have affirmed their keenness to develop endowments and achieve their noble goals, in a way that preserves them and ensures maximum benefits from them.

In a joint statement, they expressed pride in the long history of Islamic Waqf (endowment) in Bahrain, as it embodies one of the aspects of the Bahrain's peoples deep-rooted features of righteousness, benevolence, goodness and solidarity.

They highlighted the completion of the registration of many old endowment properties after proving the identities of their owners, being the legitimate and legal basis for exploiting them.

They emphasised that the priority is to continue developing the endowments by adopting modern practices in a way that contributes to increasing their investment returns, ensuring their long-term sustainability and raising the level of their contributions to social development.

They stressed the need to adhere to the regulatory procedures for registering endowments, foremost of which is that the in-kind property to be endowed should be owned by the endower as a necessary and obligatory legal and religious requirement, as well as to make sure that the property or money endowed has no dispute over it.

They affirmed the role and responsibility of the endower in transferring the ownership of the property to the relevant endowment directorate and to register it in its and registering it in its official records.

The Board of Directors of the Sunni Endowment affirmed its keenness to continue registering old endowments, based on the record of old Sharia magistrates, according to procedures and regulations in force.

The Board of Directors of the Jaffari Endowment also expressed its keenness to continue registering old endowments, based on the record of Adnan Al-Musawi, in accordance with procedures and regulations in force.

Source: Bahrain News Agency