«التجارة» توضح مصارف الشركات غير الربحية وضوابط تأسيسها

The Ministry of Commerce has revealed the purposes of non-profit companies that must be specified in the company's articles of association, covering more than 20 activities.

The activities included several fields, most notably: "religious activities, education and training and research and its fields, health and psychological affairs, nursing and patient treatment and its services, family and childhood care programs, support for vocational, health, social, psychological, and scientific rehabilitation programs, literature, culture, arts, talents, hobbies and their activities, heritage, tourism, entertainment and their activities."

The purposes of the banks also included supporting and sponsoring crafts and professions of various kinds, sports activities, providing legal services to serve the community, information technology, data, and artificial intelligence activities, supporting entrepreneurship programs and small and medium-sized enterprises, consumer protection, and others, in addition to any other general non-profit purposes and fields determined by the ministry in coordination with the National Center for the Development of the Non-Profit Sector.

The system granted the right to government entities, public authorities, public institutions, universities, public sector employees, and other legal persons to establish non-profit companies in accordance with the provisions of the Companies Law.

The public non-profit company takes the form of a (joint stock) company only, and the profits generated from its activities in the purposes and fields of general non-profit aimed at serving the community are spent, while the private non-profit company exclusively takes the form of a (limited liability company or joint stock or simplified joint stock), and the profits generated from its activities are spent in any of the purposes and fields of non-profit.