Whistleblowers to Receive Cash Rewards for Reporting Unauthorized Endowments in Saudi Arabia
Whistleblowers in Saudi Arabia who report unauthorized endowments valued at more than SR9 million ($2.4 million) will be rewarded with a financial cut of any resulting seizure.
The new strategy was announced by the General Authority of Endowments in line with its existing rules covering unauthorized and unknown endowments.
The authority also approved new legislation to protect whistleblower rights in a bid to encourage the public to report unauthorized endowments.
Rewards for tipoffs that result in a seizure will have a maximum value of 5 percent of the confiscated funds, or SR1 million.
Reports must meet criteria, including online submission, ensuring that the endowment has no supervisor, and that appropriate documentation is provided.
The authority seeks to establish the endowment industry in Saudi Arabia and streamline services offered to the public.
