The Egyptian government has issued Law No. 209 of 2020, which reorganizes the Egyptian Endowments Authority. This law aims to promote the charitable endowment system, supporting the establishment and maintenance of scientific, cultural, health, and social institutions. The law ensures the independence of these institutions, with their affairs managed according to the conditions set by the founders. The law was announced on September 27, 2026.
According to the law, the Egyptian Endowments Authority is responsible for managing and investing charitable endowments, utilizing economic principles to grow the endowment funds. The authority acts as a proxy for the Minister of Endowments, overseeing charitable endowments. The Ministry of Endowments will implement the conditions set by the founders, as well as court decisions and final judgments related to the division or entitlement of endowments.
The law specifies that the authority will inventory and evaluate the assets and funds of the endowments under its management. This process involves a specialized committee comprising representatives from the Ministry of Finance, local councils, and the General Authority for Agricultural Reform. The committee's formation and working procedures are outlined in a decision, which also stipulates that the disposal of assets and real estate must be done through public auction.
The authority is allowed to replace or sell assets under certain conditions. These conditions include cases where there are co-owners of real estate with charitable shares not exceeding half of the property, tenants of vacant land who have built on it for over 15 years, and tenants of residential units in endowment buildings. The inventory process includes collecting data on these assets to ensure the authority's rights are protected.
If the committee discovers any shortage in the assets or funds handed over, it can obligate the delivering party to provide compensation. The term "delivering party" refers to any government agency that previously received land, real estate, or funds for endowments under the provisions of other laws. This process aims to maintain transparency and accountability in managing endowment funds.
The authority is also empowered to purchase assets that are put up for sale by division committees, according to the provisions of Law No. 55 of 1960. This applies to assets that have ceased to be endowments or other assets that generate returns. This measure is intended to optimize the use of endowment funds and ensure their sustainability.
Additionally, the authority can appoint public or private entities to collect revenues within a specific regional scope for a commission. The terms and conditions of such appointments are determined by the authority's board of directors, as regulated by the executive regulations of the law. This move aims to enhance the efficiency of endowment management and revenue collection.
Key points
- The Egyptian Endowments Authority is tasked with managing and investing charitable funds to support various social and cultural institutions.
- The law outlines specific conditions for the disposal of endowment assets, including public auctions and exceptions for certain cases.
- The authority's role includes inventorying and evaluating endowment assets, as well as taking measures to protect its rights and ensure accountability.
