The fund has a legal personality and administrative and financial independence. The board of directors set general objectives as a wide and continuous framework to develop the educational ability of the universities and diversify their financial resources in a way that benefit all their academic and practical programs in quantity and quality. The goals of the fund as stated by its board of directors are:
Develop the higher education and increase the universities ability to perform its role that meets the requirements of development.
Diversify the funding sources of universities and develop its mechanisms.
increase the universities own resources and enabling universities to go forward in rationalizing and organizing the rewards.
Invest funds efficiently and effectively to support the available financial resources of the universities.
Benefit from the returns of the services provided by the universities and receive the contributions of the private sectors.
commit to the Funding mechanism
It is studied by the General Secretariat
To the Board of Directors
Funding projects on approved classifications From Board of Directors for these projects as follows:
funding the purchase of devices and providing laboratory requirements
Fund the Establishing of new colleges and expand existing colleges that serve the market
Supporting academic and academic programs for universities.
Providing other requirements such as the urgent needs of university hospitals and others
Providing scholarships and students employing
Funding programs, centers and scientific research
Until the end of 2019, approximately 519 projects were funded with a total amount of 2,129,925,973 riyals