The Bayt Mal Al-Quds ASharif Agency (BMAQ) was established on the initiative of the late King Hassan II, may God Grant him mercy. The leaders of Arab and Islamic countries, along with members of the Al-Quds Committee, endorsed His Majesty’s proposal in early 1995. The Institution was structured as an executive branch of the Committee and officially became operational in December 1998, following the first financial contribution deposited into its accounts.