This week’s issue of the Official Gazette included the full text of Royal Decree 28/2024 Establishing the Omani Waqf Establishment and Promulgating Its System, which is a brand new government entity responsible for managing and investing waqf as well as the treasury, known as Bait Al-Mal, of the Ministry of Endowments and Religious Affairs.
The System of the Omani Waqf Establishment stipulates that the establishment aims to invest waqf and Bait Al-Mal and to professionalise waqf practices in Oman by adopting best practices for waqf investment, facilitating public and private sector partnerships in the area of waqf, and creating companies for waqf investment.
The new establishment has a board chaired by the Minister of Endowments and Religious Affairs. The establishment is a proper government entity, not a company, but its operations are of a commercial nature.
You can read more about waqf by reading the Law of Awqaf. You can also read the full text of the new System of the Omani Waqf Establishment on the link below: