Here's what you need to know about society funds rules

The Kingdom of Saudi Arabia's flag

The official gazette Umm Al-Qura published on Aug. 9 the rules governing society funds, which aim to regulate the operations of such fundsin accordance with their nature and purpose and as per the law, bylaws, and governance rules.

The rules apply to the funds established in the Kingdom in accordance with the law and bylaws.

The services provided by the fund are limited to its participating members, and the bylaws specify such services.

The services may also be provided to others as defined by the bylaws, but this is conditional on the approval of the National Center for the Development of the Non-Profit Sector (NCNPS).

As for the fund's establishment, a request is submitted to NCNPSin accordance with the law, bylaws, and regulations.