GCC seeks endowment fund establishment

The Gulf Cooperation Council wants to establish a joint endowment fund to support endowment practices in the six GCC countries, a Kuwaiti official said Sunday.
Fareed Emadi, Assistant Undersecretary for Administrative and Financial Affairs at Awqaf and Islamic Affairs Ministry, said joining the endowment fund would be optional for GCC governments but might expand to include individuals in future.
He was speaking to KUNA on sidelines of a meeting of Assistants of Ministers of Awqaf, saying participants would refer a recommendation to establish the endowment fund for the ministers, due to meet in Doha next month.
Revenues of endowment, he added, would be used in fields of scientific research and other Islamic-related activities.
Emadi said the participants assigned Kuwait to submit proposals for the GCC leaders over the youth and backing voluntary acts.
On the meeting, Emadi said Kuwait tabled a paper about the spread of moderation against extremism and violence amidst challenges and conflicts taking place in the region and how they were affecting the youth.
The paper focuses on boosting the religious, moral and social values, developing media and technology, and boosting social security, said Emadi.
Source: KUNA