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Egypt: President El-Sisi Meets with Minister of Awqaf

Published by APO Africa Newsroom on Thu, 24 Nov 2022

Download logoToday, President Abdel Fattah El-Sisi met with Minister of Awqaf (Religious Endowments) Dr. Mohamed Mokhtar Gomaa, Presidential Advisor for Financial Affairs Major General Mohamed Amin, and Assistant to the Minister of Awqaf Mr. Mohammed Abdel Naby.The Spokesman for the Egyptian Presidency said that the meeting followed-up on the efforts made to manage and develop the assets of the Awqaf Authority.President El-Sisi stressed that due to the great importance of the assets of the Awqaf Authority, they should be well-managed and developed. In this regard, it was stressed that diligent efforts should be made to collect the receivables at fair market value.The President also directed all relevant State bodies to expedite the procedures related to the enforcement of judgements issued in favor of the Awqaf Authority and to promptly have the cases tried.Dr. Mokhtar Gomaa presented the authoritys revenue growth rates in the fiscal year 2021/2022 which amounted to approximately 2.035 billion Egyptian Pounds, an increase of 216 million Egyptian Pounds compared to the last fiscal year 2020/2021. The Authority also achieved about a 22% increase in revenue in the first quarter of the fiscal year, compared to the previous fiscal year. The Minister also presented the status of the procedures related to the enforcement of judgements issued in favor of the Awqaf Authority.The Assistant to the Minister of Awqaf also presented the authoritys investment plan which aims to make the best use of its assets.The meeting also discussed the Ministry's efforts in the field of charity and community services, including the project concerned with the Islamic sukuk (bonds). These efforts are made as per the President's directives to all state institutions to intensify their social protection programs. It was also mentioned that the sukuk project has raised about 218 million Egyptian Pounds, an increase of about 53% compared to last year.Distributed by APO Group on behalf of The Presidency, The Arab Republic of Egypt.
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