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What are the Authority’s goals?
The Authority aims to preserve and develop the funds of minors and those in custody, to protect their financial rights in a way that guarantees them a decent life and benefits them in all their affairs.
The Authority is an Administration foundation, not specialized in jurisdiction, whereas the courts are performing the jurisdiction works. The authority may perform the works of amicable settlement of the inheritances whereas the courts are performing the disputes settlement in case of any dispute may arise between the heirs regarding the inheritances. The authority takes care of the minors and the interests of the concerned individuals, whereas the courts are deemed to be impartial authority.
Based on the main objectives of the investment strategy, which are based on legal and technical issues and are guaranteed by regulations, legislation, policies and investment controls, The Authority follows a low-risk investment policy by entering into low-risk investments with the aim of developing and maintaining the funds of those under its sponsorship Minors to reduce any future losses
Age of maturity: 18 years of age. Rationality: Good conduct of money on the basis of Shari’ah and reason.
The judge shall, at the request of the concerned parties, and after taking the opinion of the Authority, rationalize the minor at the age of seventeen, and prove his good conduct.