King Hamad bin Isa Al Khalifa
King Hamad bin Isa Al Khalifa

His Majesty King Hamad bin Isa Al Khalifa, the beloved King of the country, may God preserve and protect him, issued Decree No. (64) of 2020 establishing the Hope Fund to support youth projects and initiatives, stating:

 

Article 1:
A fund shall be established to support youth projects and initiatives called the Hope Fund to support youth projects and initiatives, and referred to in this decree by the word “the fund”. The representative of His Majesty the King for Humanitarian Works and Youth Affairs is tasked with issuing a bylaw that includes the fund’s organizational structure, its work system, and all the issues necessary to enable it to achieve its goals and exercise its responsibilities.
second subject :
The fund may have a board of directors, whose composition, duration, specification of its functions and system of work shall be decided by the representative of His Majesty the King for humanitarian work and youth affairs.
Article Three:
The fund aims to invest and support youth projects and initiatives, take care of Bahraini youth, and promote investments in the youth field.
Article Four:
The fund carries out all the tasks and powers necessary to achieve its goals, and in particular it has the right to do the following:
1- Establishing companies and contributing to their establishment, and coordinating with the concerned authorities to provide the necessary funding sources for this.
2- Appointing members of the boards of directors of the companies fully owned by the fund, and nominating the representatives of the fund in the boards of directors of other companies of which it contributes a percentage of its capital.
3- Investing the fund's money.
4- Owning the real estate and movables necessary to conduct his activity.
5- Owning and exploiting intellectual property rights such as patents, trademarks and industrial trademarks, concession rights and other intangible rights.
6- Concluding contracts with private companies.
7- Carrying out investment and youth projects and generating revenues to develop and support the youth sector in a sustainable manner.
8- Highlighting the achievements and accomplishments in the youth field and motivating them with rewards, prizes and other means of material and moral encouragement.
9- Contributing to the establishment and development of non-profit youth projects, and coordination with government agencies in charge of implementing programs and projects in this field.
Fifth Article:
The fund coordinates with all parties to provide the necessary funding sources to achieve its goals.
Article Six:
The Prime Minister and the ministers - each within his jurisdiction - shall implement the provisions of this decree, and it shall come into force on the day following the date of its publication in the official gazette.