The endowment fund, which targets raising assets worth SR200 million by the year 2025, will spend the returns of its investments to meet the endowment costs.

The endowment fund is meant to cover health services for some expatriates who are not come under free healthcare services and health insurance that make them eligible for treatment in hospitals.

During the ceremony, Prince Faisal presented the health coverage card to the first female beneficiary of the Al-Shifa Health Endowment Services. This service is regarded as one of the modern models in the field of charitable work, as the insurance card covers the costs of basic health needs for those who are not covered under free healthcare services in hospitals.

During the ceremony, a documentary, briefing on the activities of Al- Shifa Endowment, was screened. The Al-Shifa Endowment comes as part of the initiatives that support the Saudi government’s move to provide humanitarian care to beneficiaries inside and outside the hospitals in the Madinah region.

The emir also witnessed the Al-Shifa Health Endowment’s signing of nine agreements with the Health Endowment Fund, the Home Medicine Association, My Blood Association, Kibadak, Hayat Association, Riaya Association, Bushra Association, Tahur Association, and Quloub Med Company.

The fund is one of the initiatives launched by the Al-Shifa Endowment to provide an opportunity for individuals and private sector firms to contribute to alleviating the suffering of the targeted patients.

It also aims to stimulate community participation and activating the social responsibility of private sector companies in supporting non-profit investment development programs and actively participate in social solidarity programs to participate in supporting needy patients. This is in a way that enhances the promotion and investment of endowment assets, and achieves financial sustainability for its products.