Muscat: His Majesty Sultan Haitham bin Tarik on Wednesday issued a Royal Decree No 28/2024, on the establishment of Oman Endowment Foundation and promulgation of its system.
Article (1) stipulates that a public foundation to be named “Oman Endowment Foundation” shall be established and that it shall enjoy financial and administrative autonomy and report to the Minister of Endowments and Religious Affairs. It also states that the provisions of the system/bylaw attached to this decree shall be applied to the Foundation.
Article (2) states that Oman Endowment Foundation shall have its headquarters in the Governorate of Muscat. The Foundation may have branches in other governorates as per a decision from its board of directors.
Article (3) says that the chairman of the board of directors of Oman Endowment Foundation shall issue necessary regulations and decisions to implement the provisions of this decree and the attached system.
Article (4) cancels all that contradicts this decree and the attached system or contravenes their provisions.
Article (5) says that this decree shall be published in the Official Gazette and enforced from its date of issue.
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