WORDS AND TERMS
The following words and terms are applicable to this policy. They are:
- The Office: The executive office
- The Fund: The Student Support Fund
- The Committee: The Committee of Fund Management
DEFINITION AND PURPOSE
A fund called “The Student Support Fund” shall be established in the University and will provide grants and loans to students to enable them to complete their university studies.
The resources of the Fund shall be as follows:
- Financial donations from individuals, institutions or organizations.
- Alms taxes (Islamic Zakat)
- The Office shall oversee and supervise the management of the Fund.
- The Office shall be formed of a chairperson and six members.
- The Office shall contact parties which provide finance and donations to raise required funds which enable the Fund to achieve its objectives.
- A special account for the Fund shall be opened. In this account raised funds shall be deposited and then spent on subsidizing students.
- The Office shall submit an annual report to the Board. In such report a summary of the activities of the Fund shall be provided.
- The auditor of the accounts of the University shall undertake the auditing of the Fund transactions.