Home General Directorate of Endowments and House of money

The Functions of General Directorate for developing the funds of Endowments and Money House (Bayt Al -Mal)

Preparing plans and projects ought to developing and investing the properties of Bayt Al-Mal and Endowments consistent with Islamic Shariah.
Preparing studies and evaluating the results of completing the investment projects of Beit Al-Mal and Endowments.
Following- up the implementation of projects and working to solve any problems may hinder the proper completion of projects.
Collecting revenues and reviewing expenses related to endowments andBayt Al-Mal.
Proposing the annual budget for the funds and revenues of endowments and Bayt Al-Mal.

This Division comprises the following Department:
(A) Coordination and Follow-up Department: is specialized in the following:

Receiving and registeringthe correspondence, resolutions and circulars listed from the correspondence and preservation department of the Directorate, as well distributing the departments referred to it.
Making contacts related to the Director General.
Preparingthe meetings attended by the Director General and following- up their results.
Organizing the works of keeping correspondence and other papers and documents of the Directorate.
Printing the internal warrants and transactions of the Directorate.
Following- up the achievements of subjects referred by the Director General of the departments and competent authorities.
Preparing a monthly report on the achievements of the Directorate to be submitted to the Director General.

(B) The Department of Endowments Funds Development: is specialized in the following:

Studying the plans and methods of investing the endowments properties.
Reviewing and studyingthe development projects, and investingthe funds and revenues of endowments.
Identifying the available investments aspects and choosing the best ones according to the circumstances and type of property or funds suspended and submitted to the competent authorities in the Ministry.
Following- up the completion of plans and projects approved and evaluating theirresults.
Committing what decided by the competent committees or ministerial regulations and decisions regarding the development and investment of endowments' properties.

This division includes the following departments:
The Department of Real Estate Investment: is specialized in the following:

Preparing real estate investment projects for the funds of endowments and their revenues in concert with studies and follow-up department.
Following- up the completion of projects approved by the Ministry in terms of endowments' funds in coordination with the Department of Projects and Services as well Directorate General for Administrative and Financial Affairs.
Developing the exploitation of built-up properties to achieve the greatest possible return, whether delayed or exploited directly.
Proposing the sale and purchase of real estate to achieve a profitable return from its investment.
Searching for real estate investment opportunities for endowments' properties and reviewing feasibility studies on economic bases according to the conditions and type of property.
Preparing the projects records for real estate investment regarding the funds and revenues of endowments, and registering all transactions therein.
Evaluating the current projects and proposing the best methods of investing the suspended properties commensurate with their nature and circumstances in coordination with the studies and follow-up department.

Agricultural Investment Department: is specialized in the following:

Preparing projects for the development and investment of agricultural lands suspended in coordination with Studies and follow-up department.
Following- up the exploitation of agricultural lands in order to achieve the greatest return from them.
Proposing the sale, replacement or purchase of agricultural lands in a manner not interfere with the type, nature and conditions of these lands.
Searchingthe useful investment opportunities for landsand suspended trees in a manner inconsistently with the provisions of Islamic law or the conditions of endowment.

Studies and follow-up Department: is specialized in the following:

Studying the possibility of investing endowments' properties and funds, and evaluating the possible conditions and delayed results of the investment alternatives.
Studying the projects submitted by the citizens to invest the endowments' properties, and evaluating the results of implementation of invested projects.
Searching for investors for Endowments' funds, and collecting all financial and economic information about them without prejudice to Islamic Sharia.
Following- up the completion of the Ministry' plans in the investment projects for suspended properties, and cooperating with two departments of real estate and agricultural investment in this regard.
Studying the investment' methods and working on its development to achieve the desired benefit.
Participating in the development of rules and regulations required to improve the investment of endowment' funds and collecting its various revenues.

Studying the investment' plans, utilizing and developing of funds of Bayt Al-Mal in coordination with Studies and follow-up Department.
Committing to the plans, regulations and decisions issued by the Ministry regarding the investment and development of Bayt Al-Mal' funds.
Implementing the plans and projects established for the exploitation and development of Bayt Al-Mal' funds n coordination with Projects and Services Department in Directorate General for Administrative and Financial Affairs.
Identifying the aspects of investments available to Bayt Al-Mal' funds to be submitted to the competent authorities in the Ministry.
Preparing the studies on various aspects investment of BaytAlm-Mal' funds, evaluating the results of investment works, and following-up their completion.

This division includes the following Departments:
Real Estate Investment Department:

Preparing real estate investment projects from Bayt Al-Mal' funds and its revenues in coordination with Studies and follow-up Department.
Following up the completion of the projects approved by the Ministry in respect of Bayt Al-Mal' funds in coordination with the Projects and Services Department of Directorate General for Administrative and Financial Affairs.
Developingthe utilization ofBayt Al-Mal' funds to achieve the greatest economic return, whether by leasing or exploiting directly.
Proposing the sale, replacement or purchase of real estate with a view to develop and invest Bay Al-Mal' funds.
Preparing the records required for real estate investment projects of Bayt Al-Mal' funds.
Evaluating the existing projects and proposing the best methods of their investment as are appropriate with their nature and conditions in concert with Studies and follow-updepartment.

Agricultural Investment Department: is specialized in the following:

Preparing projects for the development and investment of agricultural lands owned by Bayt Al-Mal in coordination with Studies and follow-up Department.
Following- up and utilizing the agricultural lands to achieve the greatest return from them.
Proposing the sale, replacement or purchase of agricultural lands without prejudice to the type, nature and conditions of these lands according the regulations and resolutionsgoverning this.
Seekingthe profitable investment opportunities for lands and trees owned by Bayt Al-Mal without prejudice to the provisions of regulations and resolutions governing this.

Studies and Follow-up Department: is specialized in the following:

Studying the possibility of investing Bayt Al-Mal' properties, and evaluating the possible conditions and expected results of the investment alternatives.
Studying the projects submitted by the citizens to develop and invest theBayt Al-Mal' properties, and evaluating its results.
Following- up the completion of the Ministry' plans regarding the investment projects, the utilization of Bayt Al-Mal' funds and cooperating with two departments of real estate and agricultural investment in this regard.
Studying the investment' methods and working on its development to achieve the best benefits and results.
Participating in the development of rules and regulations required to invest and develop Bayt Al-Mal' funds and collecting its revenues.

(D) Accounting Department:

Collecting the revenues of endowments and money house, of all kinds.
Reviewing the exchange and auditing theaccounts of endowments and money house.
Making and keeping the financial books organized to record the accounts of revenues and expenses of endowments and money house.
Proposing the annual budget for the funds and revenues of the endowments and money house.

This section is divided into two parts:
Department of Endowment Accounting: is specialized in the following:

Collecting the revenues of suspended properties, of all types.
Recording and seizure the revenues of endowments' properties in the register prepared for that.
Take the necessary financial actions according the regulations and resolutions established for the maintenance of endowments' properties.
Following- up the expenditure and spending with the endowments' revenues on the allocated areas, consistent with the nature of endowments' funds.
Reviewing and auditing the accounts of endowments periodically in coordination with the Ministry' competent authorities and the departments of endowments in all regions.
Supervising the accounts of banks and monitoring the expenditures.
Using the financial books and records required to register and monitor the accounts as well proposing the revenues collection forms.
Proposing the estimated annual budget for the revenues and expenses for the care and maintenance of endowments in coordination with the competent authorities.

Bayt Al-Mal Accounting Department: is specialized in the following:

Collecting Bayt Al-Mal' revenues, all of kinds.
Committing to the regulations and resolutions governing the collection process and its registration in the records.
Recording the various revenues and expenditures in the files prepared for this purpose.
Making and using the financial books and records organized for registering the accounts periodically, monitoring and proposing receipts forms of collecting Bayt Al-Mal' funds.
Taking actions available under the regulations of Bayt Al-Mal in terms of the sale or replacement of Bayt Al-Mal properties.
Taking the financial actions to keep and maintain Bayt Al-Mal' properties.
Proposing the estimated annual budget of revenues and expenses of Bayt Al-Mal ' properties in coordination with the competent authorities.
Supervising the accounts of banks and monitoring the expenditures.