Conference highlights role of endowments in supporting diversification

MUSCAT: The Oman Endowment Conference opened on Tuesday at the Oman Convention and Exhibition Centre, under the auspices of HH Sayyid Taimour bin Asaad al Said, Chairman of the Board of Directors of the Central Bank of Oman. The event, held under the theme 'Endowment and Economic Diversification', gathered local and international experts to discuss how endowment systems can become active contributors to national development.
Opening the conference, the Ministry of Awqaf and Religious Affairs emphasised that Oman possesses a rich legacy of endowment assets passed down through generations, and that strengthening their governance and investment can support the country’s future economy. The ministry stressed that endowments are not only part of cultural heritage but also potential engines for innovation, entrepreneurship and sustainable economic growth.
Dr Ahmed bin Ali al Kaabi, Director-General of Finance, Endowments, Mosque Construction and Quran Schools, said the second edition of the conference brings together leading experts from across the Islamic world to share experiences and ideas.
'Oman holds a strong foundation of endowment assets that should be reactivated to become part of the future economy,” he said, adding that several research papers and case studies will be presented to support national efforts. He expressed hope that the conference would lead to clear recommendations, including “reviewing current legislation to allow safe and bold investment opportunities” and enabling small and medium enterprises to benefit from endowment programmes.
Malik bin Hilal al Yahmadi, Chairman of the Bausher Endowment Foundation and Head of the Organising Committee, highlighted that this year’s edition aligns with national and regional directions. He explained that experts from Oman, the GCC, Türkiye, Malaysia and Australia are participating, addressing key themes such as using endowments as strategic tools for economic diversification and supporting entrepreneurship. He said the conference brings together institutions from different sectors to create a shared understanding of the economic and developmental role of endowments.