Privatization and Investment Program

Referring to the letter of His Excellency the Minister of Education No. 109809 dated 26/12/1441 AH based on Royal Decree No. (M/27), dated 2/3/1441 AH approving the University System.

And referring to the Royal Approval No. (62735) dated 23/11/1441 AH approving the enforcement of the University System to King Abdulaziz University, which considers the University among the three investment Universities included in the Royal approval.

And, as it was included in paragraph (seventh) of the letter of His Excellency, the Minister of Education No. (109809) dated 26/12/1441 AH, that the University should make a plan to increase the University’s own revenues, invest its endowments, as well as encourage businessmen, companies, and individuals to contribute to donations, gifts, grants, bequests, endowments, and work to find sustainable alternative financial resources for the University to benefit from, and what King Abdulaziz University decided to formulate a plan for its Financial Sustainability, which requires the establishment of an entity affiliated with the University President and is concerned with following up the University’s plan for financial sustainability to develop its resources and provide the regulatory and legislative environment that supports the implementation of the plan’s initiatives to serve the Kingdom’s 2030 vision;especially in the privatization programs, and to achieve the optimal application of the University System, especially what was stated in Articles (forty-ninth) and (fiftieth).

The University revenues comprises the following:

  • The subsidy that allocated by the Kingdom to them in accordance with the rules governing the University Funding Program.
  • Financial fees for academic programs, diplomas, courses and services provided.
  • Donations, gifts, grants, bequests, and endowments.
  • The proceeds of its property, investments, and endowments.
  • Other financial resources approved by the Board of Trustees, provided that they do not conflict with the objectives and nature of the University's activity.

The University opens its own account in the Saudi Arabian Monetary Agency, and opens a special account for the endowments of the University, and for it and its endowments, may open other accounts in any of the banks licensed to operate in the Kingdom, in which its revenues are deposited and disbursed from the account in accordance with the organizing rules approved by the University Affairs Council.

Article 50thof the University System stipulates:

The University may charge a fee to develop its own revenues, including the following:

  1. Tuition fees for postgraduate programs, without prejudice to the quality of the scientific product.
  2. Tuition fees for diploma programs and educational and training courses, in accordance with the general rules set by the University Affairs Council.
  3. Tuition fees from non-Saudi students, with the exception of free scholarships in accordance with its governing rules.
  4. Expenses, in return, for carrying out scientific research or consulting services for other internal or external parties, without prejudice to the goals and mission of the University.
  5. Expenses as a result of investing and developing cash and in-kind financial revenues in accordance with the regulations governing investment, self-revenue, and endowment management in the University.
  6. Expenses in return for contracting with governmental agencies and others for securing what those authorities need of national competencies from Faculty Members to perform tasks determined according to a work contract approved by both parties after the approval of the Faculty Members and the competent councils, taking into account the continuation of the Faculty Member in performing the minimum level of his academic work, such as teaching, scientific supervision, and attending scientific councils.
  7. Expenses in return for carrying out studies, services, or consultations for governmental agencies and others under a contract approved by both sides, when needed for national competencies from Faculty Members, and those revenues are included in a separate account for spending from it in accordance with the regulations approved by the Board of Trustees.

Program Vision:

To become the main reference in providing a supportive environment for achieving the programs of the financial sustainability plan and providing its financial, technical, regulatory and human requirements, in a way that contributes to achieving rational governance and stimulating change management (transformation systems) in the University.

Program Mission:

Empowering King Abdulaziz University to achieve its financial sustainability with efficient spending, allocation and optimal investment of its human and technical resources, scientific programs, facilities and infrastructures at the highest international standards.

Objectives:

  1. The participation in fulfilling of the Noble Royal Decree's contents in applying the new University System to King Abdulaziz University.
  2. The contribution in achieving the Kingdom's Vision 2030, especially in the "Prosperous Economy" axis, with its general (first level), sub- (second level) and detailed (third level) objectives.
  3. Taking all legal, financial and other measures to contribute in preparing the University's internal and external environment for the transition to the new University System and achieving the goals of the University's Financial Sustainability plan.

 The privatization and investment program structure consists of:

The Supreme Supervisory Committee for the Privatization and Investment Program.

Among the tasks of the committee are:

1- Establishing the (legal and organizational) foundations for its approval by the proficient authority for the purpose of:

  • Enabling and setting specific paths forthe privatization processes, and setting regulatory rules and procedures that motivate and support such paths. ‌
  • Conducting a comprehensive review of the University's organizational environment to identify areas of development that are compatible with the role of the University and the role of the private sector, including defining the relations between the University and the investment sector.
  • Addressing legislative obstacles in the regulatory environment in general.
  • Rising the level of fairness, transparency and integrity in the privatization process and enhance the intended benefits of privatization, whether on the University environment or on society.

2- Launching the Institutional Foundations to contribute in the existence of strategic entities and units in the University that are capable of implementing the financial sustainability plan in a manner and mechanism that preserves the interests of the University and ensures stimulation of the governmental and non-governmental sectors concerned with privatization and investment.

3- Strengthening the Partnership between the governmental and non-governmental sectors in accordance with Articles 49 and 50 of the new University System.

Investment Committee

 tasks of the committee include:

  1. Investing according to the investment plan approved by the University Council.
  2. Carrying out the feasibility studies and other necessary studies related to the investment.
  3. Studying the costs of contracting with competencies such as experts, consultants and specialists who are not affiliated with the University and who are hired to work in the field of investment in the University.
  4. Studying the expenses of the University's employees with specialization and experience whose services are used to carry out feasibility studies and other necessary studies related to the investment.
  5. Providing furniture, office equipment, stationery and other consumables for investment activities and the units supervising them in the University.

The Strategic Projects Committee

 Among the tasks of the committee is  the direct supervision on:

  • Re-structuring (engineering) some motivating University sectors to achieve financial sustainability.
  • Implementing initiatives related to technology transfer, localization and development.
  • Executing the investment initiatives in the health sector

Self-Resources Committee

 The tasks of the committee include:

Supervising the execution of the University System and the regulations governing financial affairs in the Universities for the purpose of:

  1. Activating the role of entities promoting the investment of self-resources in the University (Self-Resources Department - University Endowments - Wadi Jeddah Company).
  2. Optimum investment of financial resources in financial sustainability plan projects, especially those related to the transfer, localization and development of technology and venture capital.

Partnership Development Committee, Tasks of the committee include supervising the implementation of:

  1. The marketing plan for the projects emanating from the University's financial sustainability plan.
  2. Communication programs with governmental and non-governmental agencies and the investment sector at the local, regional and global levels, in addition to businessmen, to develop enhanced partnerships that achieve the objectives of the financial sustainability plan, in all types of partnerships with high returns and great impact.

Secretariat of The Privatization and Investment Program

Among the roles of the Secretariat are:

  1. Supervising the progress of the program and working to increase the level of its performance.
  2. Receiving the subjects/issues required to be presented to the Supreme Supervisory Committee and the rest of the committees, and ensuring the completion of their justifications and their compliance with the rules and regulations.
  3. Preparing presentation notes to the Higher Supervisory Committee for those topics according to the nature of each topic, and presenting them during the meeting session.
  4. Determining the dates of the sessions of the Higher Supervisory Committee and coordinating this with whoever is necessary.
  5. Preparing the session's agenda, including the topics that will be presented and informing the members about it.
  6. Inviting the members of the Supreme Supervisory Committee, and inform the relevant authorities of the date of the meeting.
  7. Preparing the minutes of the meetings, and completing the members’ signature on them in preparation for submitting them to His Excellency the President of the University for Approval.
  8. Advising the decisions issued by the Supreme Supervisory Committee after approval.
  9. Receiving the recommendations of the sub-committees and presenting them to the Higher Supervisory Committee for its study and taking the necessary action in their regard.
  10. Presenting the proposed regulations, legislation, and executive rules stimulating the investment environment at the university to the Higher Supervisory Committee for study and taking the necessary action in its regard.
Last Update
2/7/2023 12:26:57 PM