The Forum of International Awqaf Practices – David Russell QC on Trust and Foundations
David Russell QC was one of a select number of speakers invited to speak recently at the Forum of International Awqaf Practices, to an audience of businessmen and businesswomen in Saudi Arabia.
David’s update on ‘Trust and Foundations: Their use and family governance consequences’ highlighted the importance of setting up trusts to ensure effective estate planning while protecting the interests of the beneficiaries from a governance perspective.
Held under the patronage of HRH Prince Saud bin Nayef bin Abdul Aziz, Prince of the Eastern Province, and organised by the Awqaf Committee at Asharqia Chamber of Commerce, the forum was created to: raise awareness of the positive impact of Awqaf on various social fields; foster and help businessmen and women and social entrepreneurs to establish Awqaf with high social impact learning from national and international best practices, and influence developing policies that can support Awqaf in Saudi Arabia.
Through its 2030 Vision, Saudi Arabia is currently going through a period of transformation to take it into a new era with a thriving and diversified economy which emphasises and relies on the role of the private sector in building a market for social investment through Awqaf. This recent forum comes at the perfect time to present best practices in establishing, managing, sustaining, and investing in Awqaf.
David Russell QC was appointed to Queen’s Counsel in 1986. He currently practises in Dubai, London, New York and Abu Dhabi (Outer Temple Chambers), Sydney (Ground Floor Wentworth Chambers) and Brisbane (Sir Harry Gibbs Chambers) and is an associate member of chambers in Auckland (Shortland Chambers). He has acted for Commonwealth and State Governments as well as individuals and corporations. David was President of the Taxation Institute of Australia from 1993 to 1995, and of the Asia Oceania Tax Consultants’ Association from 1996 to 2000. To find out more about David and how his experience could be of direct benefit, please read more here.
Barristers: David Russell QC
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