Speech of the Chairman of the Board of Directors, His Excellency the Minister, Mr
Youssef bin Abdullah Al-Bunyan
Saudi Vision 2030 placed education with all of its stages at the top of its concerns, and set ambitious aspirations and goals for it, believing in the ability of this sector to create a remarkable influence that contributes - God willing - to achieving development goals and reaching a prosperous, diversified and sustainable economy, driven by the unlimited support of The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and His Royal Highness, Prince Mohammed bin Salman, Crown Prince and Prime Minister, may Allah protect them.
who are we?
About the fund
The University Higher Education Fund directs its tasks according to the supervision and management of the Board of Directors of the University Higher Education Fund. The Council has full powers to manage the Fund and set the general policy it follows. Approving its financial and administrative systems and regulations, approving investment plans, approving project financing, and approving the annual budget, All of this is under the direct supervision of the Board of Directors, headed by His Excellency the Minister of Education, Mr. Yousef bin Abdullah Al-Benyan.
Speech of the General Secretary, Dr.
Turki bin Suleiman Al-Zomaia
The kingdom of Saudi Arabia is paying great attention to the concept of sustainable development, and regards it as one of the priorities of realizing its future vision, and the Higher Education Fund is a great evidence of that concern as it is one of the most important sources of finance for the development projects at the Saudi Government universities.
In this regard, HEF has set goals and strategies to keep pace with the vision of universities by managing the financial resources of their accounts in a professional, thoughtful manner through economically viable investments, taking into account the provision of continuous cash flows that enable HEF to be a supportive tributary to raising and achieving the highest standards of educational quality, in line with the Kingdom’s Vision 2030.
We pray to God Almighty to grant us all success in serving this generous country.
HEF Objectives
Higher Education Fund has a moral personality and administrative and financial independence. Its Board of Directors has set general objectives as a broad and continuous framework to develop the educational capacity of universities and diversify their financial resources in a way that benefits all their scientific and practical programs quantitatively and qualitatively.
Compensation regulation
Enabling universities to continue rationalizing compensation and regulate it.
Finance
Absorbing contribution of the private sector in financing programs, centers and scholarships at the university.
Financial sustainability
Contribution to realizing university financial sustainability.
Development
Developing higher education, and enhancing capability of universities to perform its role which is compatible with development requirements .
Diversification
Diversifying finance sources, and developing its mechanisms
Enhancement of Resources
Enhancement of universities’ self resources
Funding Mechanism
How it work?
The Fund operates according to specific steps that are completed at the request of each project.
The General Secretariat studies and completes its requirements and regulations according to the Fund's financing mechanism. The Advisory Committee studies all funding requests submitted by universities and referred to it by the General Secretariat. In addition, it provides its advisory opinion on the eligibility of university funding requests and studies all its elements in terms of priority, scientific value, and importance at the same time. Its recommendations are considered a component of the funding requests submitted to the Board of Directors.
The General Secretariat studies and completes its requirements and regulations according to the Fund's financing mechanism. The Advisory Committee studies all funding requests submitted by universities and referred to it by the General Secretariat. In addition, it provides its advisory opinion on the eligibility of university funding requests and studies all its elements in terms of priority, scientific value, and importance at the same time. Its recommendations are considered a component of the funding requests submitted to the Board of Directors.
3+Total Financing Amounts (Billion Saudi Riyal)
618+Funded projects
I
1. The Application
The application is submitted, and it is studied by the general secretariat, and its requirements are fulfilled according to finance mechanisms.
II
02. Submitting Recommendations
Recommendations are submitted by the Board of Directors regarding the project required to be financed.
III
03. Study
The board of directors studies the finance application in its meetings and issues a decision on it.
IV
04. Approval
In case of consent, the university demands from university the finance amount of the project according to its implementation time.
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