Agreement to launch the Educational Financing Fund

The people of knowledge are among the martyrs of the truth for the Almighty to say: {Allah testified that there is no god except him and the angels, and the knowledge is based on the cost, there is no god but the Mighty and the Wise} [Al-Imran: 18].

Al-Maarefa University, represented by His Excellency Mr. Abdulaziz Abu Bakr, Vice Chairman of the Board of Directors – CEO and Managing Director, signed an agreement to launch the Educational Financing Fund with Sulaiman Al-Rajhi Foundation for Development Finance, represented by His Excellency Mr. Muhammad Al-Khamis, CEO of the Foundation, on Sunday, 26/1/2020 AD, to provide easy financing programs for students under the Qard Al-Hassan

system. The agreement comes to support cooperation in educational financing services, and to provide opportunities to study in higher education with a flexible payment mechanism without interest on the beneficiary, which contributes to granting greater opportunities to continue education for the groups targeted by the Fund.

The signing ceremony was attended by His Excellency Prof. Dr. Walid Abu Al-Faraj, Chancellor of the University, and on the part of the Foundation, His Excellency Dr. Abdul Rahman Suleiman Al-Rajhi, Chairman of the Board of Trustees, and a group of officials from both parties.

The agreement is considered a cornerstone and a real partnership between the two parties that will be launched in order to serve the student and the community, as it will facilitate the payment of the burden of the size of the tuition costs on families, in easy installments that take into account the income level of these families in sharing the support of private higher education with the private sector.

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