Total endowment assets in 2023 stood at OMR14mn

Muscat: Total new endowment assets in 2023 stood at more than OMR14 million, according to the Ministry of Endowments and Religious Affairs.

This was unveiled during the ministry’s annual meeting during which activities and accomplishments of the waqf (endowment sector) for the year 1444-1445 AH were outlined.

A presentation to this effect showed that community support for the reconstruction of mosques stood at OMR20,750,000. This was in addition to more than OMR25 million donated to provide basic services to 12,000 mosques.

During the annual meeting, endowment investment contracts were signed to carry out four projects: The construction of Square Commercial Complex in Al Khoud in the Wilayat of A’Seeb to the tune of OMR3.14 million, the establishment of a commercial building (OMR759,550), a commercial building for Bahla Mosque (OMR339,561) and a model entertainment project in the Wilayat of Nizwa (OMR335,380).

The event was held under the auspices of Sultan Salim Al Habsi, Minister of Finance.