Riyadh: New regulations have been introduced in Saudi Arabia concerning charitable fundraising by non-profit organizations, civil society institutions, and other entities. Effective immediately, charities and non-profits must secure approval from the National Center for Non-Profit Sector Development before accepting funds through bank channels.
The regulations require that organizations seeking to initiate fundraising campaigns must first obtain a license from the National Center for Non-Profit Sector Development. This license must detail the organization’s goals, planned activities, and financial objectives. Additionally, applications must include information such as the organization’s license number, bank account details, addresses, branches, and contact numbers.
Charities and non-profit organizations are also required to submit a detailed financial report within 15 days of receiving funds. This report must include bank statements and a clear account of the funds received, along with their intended use. Failure to comply with these regulations will result in fines up to 100,000 Riyals and potential suspension or revocation of the organization’s license.
The new regulations aim to enhance transparency and accountability in the charity sector, ensuring that all fundraising activities are properly regulated and monitored.
