By Laws


1. Establishment

KFUPM Research & Academic Programs Support Fund will be established according to this regulation and it will operate under the Office of H.E. the Rector the University. It will be referred as "the Fund".

2. Location

The Fund located in Dhahran- King Fahd Univesity of Petroleum & Minerals. It is possible to change its location or establishing a new branch (branches) by a decision from the fund board of directors.

3. Goals

With the recognition of the importance of the diversity of financial resources and in preparation for any emergencies caused by international oil prices or others, the raising costs of higher education, the increasing financial budget of research and academic programs and with believing of the importance of the diversity of financial resources to support the educational and research process, the fund goal will be the following:

  • Accepting gifts, donations, grants, aids, etc from individuals, organizations, local or abroad since it doesn’t conflict with the university academic goals.
  • Investing the fund resources according to the university needs and donors’ wishes taking in consideration risk factors and precaution.
  • Investing the fund resources according to the Islamic law.
  • Devoting the fund revenue in supporting KFUPM teaching & research.
  • Looking & searching for alternate and permanent financial resources facing the raising costs of higher education.
  • Searching for alternate and permanent financial resources other than that of the government.
  • Inviting and encouraging good people and the University’s graduates to contribute in this fund.
  • Strengthen the cooperation with other S. A. universities’ funds if existed and related local or international entities according to KFUPM policy.

4. Board of Directors

  • The University council will supervise on executing the fund general policy according to these regulations.
  • Board of Directors consists of ten to twenty prominent people, leaders, businessmen and VIP in public or private sectors and they were chosen for their scientific, professional or practical positions either from inside or outside Kingdom. Those members are appointed through the university council when named by the Rector and the membership last for three years.

5. Voluntary Membership

Fund membership is voluntary, therefore, members cannot ask for salaries, wages or financial benefits for their membership.

6. Membership loss

  • Death.
  • Withdraw by a written letter.
  • If the member causes a gross damage (physical or moral). The damage is estimated by the board of directors.
  • If the member is unable to do his job.
  • If he utilizes his membership for personal benefits.
  • If he fails to attend three successive meetings.

7. Board of Directors Meetings

The board of directors meets on a biannual basis with the invitation of the chairman provided that at least half of the Board members are present at the meeting including the chairman. The chairman may also make this invitation if half of the board requests him. The invitation shall indicate the meeting agenda. Decision Decision made by the majority of the board and in the case of an equal number of votes, the vote of the Chairman shall prevail. The board can also invite any persons could assist in the meeting but they have no votes. Meeting minutes are signed by the chairman and attended members. Board of directors cannot make decision without a meeting unless it is very important and in that case the total members must agree in writing and these decisions will be listed in the next meeting minutes.

8. Board of Directors Duties and Responsibilities

The Board is charged with the overall stewardship of the Fund and putting the general policy for it. The Board's responsibilities include:

  • Issuing the fund bylaw.
  • Approving the financial, administrative and technical regulations.
  • Approving the fund bylaws, policies and activities regulations.
  • Supervising & reviewing the Fund financial, administrative and technical activities.
  • Approving the Fund budget, comptroller report, annual assessment and other related issues and reporting to the university council.
  • Forming required committees including determining their members and duties.
  • Investing in real estate.
  • Approving the Fund work plan & operations.
  • Accepting gifts, donations, grants, aids, endowment, etc.
  • Approving means of investment.
  • Laying down the general principles for the relation with other funds.
  • Forming required committees to study specific issues related to the Fund.
  • Authorizing the executive manager or any committee some of its rights.
  • Suggesting the minimum amount of gifts, donations and grants required for university chair and reporting to the university council.
  • Approving amount and distribution method of income yields from the investment packages or real estate.
  • Approving the Fund contracts and agreements.
  • Suggesting the modification of this regulation and reporting to the university council.

9. Confidentiality

Board of Directors members are not allowed to reveal any information may be disclosed from their membership work.

10. Executive Manager

The Fund will have an executive manager assigned by the board of directors and reported to the fund chairman . The Executive Manager’s responsibilities include:

  • Preparing the board of directors meetings.
  • Executes & follow up the board of directors decisions.
  • Preparing the Fund budget & closing account projects.
  • Supervising the Fund employees and labors.
  • Issuing expenses orders according to the approved budget.
  • Issuing periodical reports about the Fund activities to the board of directors.
  • Suggesting the Fund programs and policies & Supervising them when approved.
  • Executive manager can authorize others to perform some or even many of his responsibilities.

11. Fund finances

Fund has its own budget containing its incomes and expenses. The executive manager will prepare this budget and present it to the board of directors before three months from beginning of the fiscal year to study, approve and report to the university council.

Fund finances shall consist of:

  • Government contributions.
  • All assets and liabilities.
  • Accepted gifts, donations, grants, aids, endowment, etc.
  • Income yields from Fund Activities.
  • Income yields from Fund investment projects.
  • Income yields from Fund resources & university research.

12. Bank Account

Fund money is deposited in local banks accounts. Withdrawal from these accounts is according to the regulations.

13. The Fiscal Year

The Fund fiscal year is the University fiscal year.

14. Comptroller

The Board of Directors shall appoint one or more comptrollers either being natural or body corporate licensed to work in the Kingdom and shall determine their fees. Should there be more than one comptroller then they shall be jointly liable for their activities before the Authority. The comptroller’s report shall be addressed to the Board of Directors.

15. Applying Priorities

Issues not above- mentioned are subject to university rules & regulations.

16. Effective Date

These regulations are effective from the date of approval.

17. Modification & Interpretation

The University council has the right to modify and/or interpret these regulations.