Muscat – The Imam Jabir bin Zaid Waqf Foundation on Monday launched an endowment investment fund, with the aim of creating a conducive investment environment for endowments.

Held under the patronage of Abdullah bin Salim al Salmi, Executive President of the Capital Market Authority, the ceremony witnessed the attendance of dignitaries, senior officials, members of the board of directors and individuals with a keen interest in endowments.

The establishment of Gheras Endowment Investment Fund aims to simplify investment operations by creating a platform that consolidates all endowments. It is based on the principles of sharia’a governance, and complete transparency.

“The creation of the fund reflects the foundation’s mission to promote the principle of endowment and community partnership by creating investment products aimed at diversifying income sources and achieving financial sustainability,” said Younis al Suli, acting CEO of Imam Jabir bin Zaid Waqf Foundation. “This fund aligns with the general aspirations of endowments and the specific goals of those under endowment beneficiaries.”

The fund “is in line with Oman Vision 2040 and contributes to meeting societal needs and supporting the non-profit sector in the national economy,” he added.

The Gheras Endowment Investment Fund, structured as an open-ended endowment fund offered through a special subscription, aims to distribute a permanent income from the net returns of the fund for the benefit of investors.

The fund allows for efficient portfolio diversification, serving the interests of the endowment, the endower, and the benefiting entity through investments in various assets.

It reflects the principle of endowment partnership, providing an opportunity for other endowments to invest. The fund will allow for income diversification and contribute to achieving financial sustainability for endowment assets.