RIYADH: The General Commission for the Guardianship of Trust Funds for Minors and their Counterparts, along with the Institute of Public Administration, on Wednesday hosted a forum called “Reality and Future Directions” in Riyadh.
It focused on the role of the commission in monitoring, preserving, managing and developing trust funds for minors and their counterparts in the light of social, economic, and technical challenges.
The event was attended by guardians, custodians, judges, lawyers, and officials in the governmental, private, and non-profit sectors, as well as researchers, academic specialists and professionals.
Mohammed Al-Alokla, chairman of the commission, said that the Saudi government had shown great interest in the trust funds “by paying attention to the regulatory and legislative aspects of managing, preserving and developing such funds for the benefit of their owners.”
The forum highlighted objectives in the areas of managing, preserving, and developing the trust funds, added Al-Alokla.
It also focused on the financial actions of guardians and custodians, including knowledge of the types of trust funds for minors and their counterparts, and their authority over the funds, works, duties, rights, and powers of minors.
The current and future practices of the commission in supervising the financial actions of guardians and custodians of minors were also discussed.
Speakers also addressed the commission’s strategy and future direction, as well as future trends regarding the organizational and digital transformation in managing, preserving and developing minors’ funds.
They also looked at the commission’s strategy in managing and investing the funds of those covered to achieve optimal investment requirements, and the challenges of partnerships.
