On Sunday, 3rd November 2019, His Royal Highness Prince Saud bin Nayef bin Abdul Aziz, Governor of the Eastern Province, chaired the second Board meeting of the fourth cycle for the KFUPM Fund for Research & Educational Programs, "KFUPM Fund", at King Fahd University of Petroleum & Minerals.
The Rector of King Fahd University of Petroleum & Minerals (KFUPM), Dr. Sahel N. Abduljauwad, welcomed His Royal Highness Prince Saud bin Nayef bin Abdul Aziz, and thanked him for his continuous patronage and support for the University's efforts in the fields of education, scientific research and community service. This support has had great impact in helping the Fund achieve its objectives in supporting innovation and creativity, enriching the educational and research process, achieving quality and providing new alternatives and options for financing research and educational programs, which in turn supports the process of knowledge production, community development and its development movement.
He also welcomed the Fund board members, comprised of a group of businessmen and leaders, all luminaries in the governmental and private sectors, who will help the Fund through their experiences and new ideas by providing a new concept to diversify the scientific research resources. Dr. Abduljauwad thanked them for accepting the invitation to attend the meeting.
He said that the KFUPM Fund for Research & Educational Programs, which was launched upon the approval of the University Council in the academic year 1427/1428, represents a deliberate scientific effort to meet the challenge of the high cost of higher education, to disseminate the voluntary awareness among university graduates and all those who understand the role of scientific research in the development of society, to enable the University to continue publishing its distinguished scientific output, and to graduate international competitors.
The Board adopted a set of financial and administrative decisions, namely it approved the Fund’s financial statements of 2017 and 2018, approved the Fund’s operational budget of 2020-2021, approved the budget for supporting educational and research programs of 2020-2021, approved the extension of the appointment of the Aldar Audit Office as the Fund’s auditor for 2019-2020, approved the charter of the Executive Committee, approved the manual of procedures and powers and the restructuring of the Fund Audit Committee.
The meeting was attended by a number of businessmen and leaders, all luminaries in the governmental and private sectors including HE Dr. Mohammed S. Al-Jaser, Vice-Chairman of the Board; His Excellency Engineer Abdulatif A. Al-Othman; HE Dr. Sahel N. Abduljauwad; HE Khaled Al-Zamil; HE Khalid H. Al-Malik; HE Khalid A. Al-Rajhi; HE Eng. Abdullah A. Bugshan; HE Esam A. Al-Mohaidebl; HE Abdullah A. Al-Fozanl; HE Zaki A. Al Mousal; HE Abdullah S. Al Juma'a; HE Abdullah S. Bahamdan; HE Naser M. Al Subaie, and HE Abdulrahman R. Al Rashid.
The Fund offers donors the opportunity to contribute in a short or long term manner and provides support in their favorite areas such as scientific chairs, research centers, studies and scholarships, student projects, programs to attract teachers, entrepreneurship, technology development and many other fields.