The Investment Fund was established as an independent department at the university in May 2010. Through its staff, the department manages and invests the Fund's resources in accordance with the investment policy set by the Board of Trustees and specialized committees, following the regulations and instructions governing the university's Investment Fund. On June 12, 2022, the Dean's Council decided to merge the Provident Fund and the Student and Donations Fund with the Investment Fund, forming a single department under the name Fund of Funds. The Investment Fund offers a variety of financing programs for university employees in accordance with the Islamic Murabaha system. These programs cover employees' diverse needs, including land, cars, electrical and cellular appliances, computers, home appliances, and other financing options that align with the Fund's overall policy. The Fund is overseen by a committee of university staff, responsible for formulating its future policies. Leveraging its financial capacity, the Fund aims to expand its investment activities by preparing feasibility studies for profitable projects. It also seeks to enhance its financing programs by increasing loan periods and ceilings, reducing Murabaha rates, and identifying additional funding sources within the university. The Provident Fund provides services to employees through the provision of favorable loans and allows eligible employees to withdraw dues. A portion of its funds is invested in the Investment Fund, with profits distributed to members' accounts. The Student Fund supports students employed during each semester by covering their dues, thereby providing financial assistance to help them continue their education successfully. |