Board of Directors of Oman Endowment Foundation holds first meeting

Muscat: The Board of Directors of the Oman Endowment Foundation (OED) on Wednesday held its first meeting, chaired by Dr. Mohammed Said Al Maamari, Minister of Endowments and Religious Affairs, Head of OED Board of Directors.

The meeting discussed mechanisms for approving the appointment of the OED Deputy Chairman and Rapporteur, reviewing progress in the OED's foundation stage, forming the working team, devising project governance and selecting a temporary headquarters for the OED.

The meeting looked into administrative and financial aspects like the founding budget, authorizing a board member to undertake the duties of the CEO and starting procedures for appointing the CEO under the supervision of a specialized agency.

The Board of Directors also discussed the OED media policy, investment portfolio, target investment opportunities, its investment operational model and prospects for cooperation with houses of expertise that are well-versed in developing financial, administrative and investment systems.