On December 13, 2021, Awqaf Properties Investment Fund (APIF) held its 60^th Supervisory Committee Meeting chaired by H.E. the President, Dr. Muhammad Al Jasser. During the meeting, Dr. Mohamed Ali Chatti, Acting Director, Islamic Financial Sector Development Department (IFSDD), presented the Fund's performance as of the end of Q3, 2021.

The Fund has approved in 2021 three new projects with the objective to generate a regular income to support the philanthropic activities of the beneficiaries. These approvals include two projects in Member Countries and one in Non-Member Country, with total cost of USD 43.21 million.

On the resource mobilization front, the APIF team has successfully mobilized in 2021 an additional amount of USD 18.75 million from 4 different investors: additional investment from Faisal Islamic Bank of Egypt (FIB) with USD 2.75 million in October 2021, additional USD 6.51 million from the Indonesian Hajj Fund Management (BPKH), Alrajhi Family with USD 8 million and the International Islamic Fiqh Academy (IIFA) with a participation of USD 1.5 million.

Several topics have been discussed and reviewed during the meeting, including but not limited to, the approval of the meetings schedule of the supervisory and participants committee meetings during the year 2022; operational plan and administrative budget of APIF for the year 2022; and a presentation of the draft revised regulations of APIF and the updated investment and financing policy.

Finally, H.E. the President concluded the meeting by thanking all the members for attending and supporting the noble mandate of this Fund whilst acknowledging APIF team to continue their valuable efforts.