Financial Affairs Directorate
The Directorate of Financial Affairs plays a focal role in the university considering its strong ties with all stakeholders including the President Office, faculties, directorates, and students.
The Directorate regards equally the offering of the best financial services and transactions to those involved such as workers, students and external parties on one hand, and the achievement of university’s objectives on the other hand.
The vision of the Directorate, with its mission, values, and objectives for the period 2017-2019 are shown next.
Socially Responsible Values
Guided by not-for-profit principles as well as a commitment to socially responsible values, the Directorate of Financial Affairs seeks a pioneering role in the creation of socially responsible systems and solutions of finance that assist in widening the participation of all types of students from all walks of life into the higher education.
The Directorate of Financial Affairs is working on managing and developing the financial resources of the university with high efficiency and competence, launched from the team spirit and creative potentials of its personnel.
The Directorate of Financial Affairs also pursues all developments regarding the administrative, skillful and technical aspects which flow in favor of the university and its students, and which elevates the systems and policies that control its work in accordance with the best universal professional standards and practices.
The Directorate has the duty to foster the university vision for achieving its strategic financial objectives as well as to provide all the necessary factors to secure efficiency and effectiveness of financial operations that will meet healthy financial cycle, assisting in realizing the educational vision of the university.
The Directorate also pursues all monetary and non-monetary developments that enable an effective system of social returns and reasonable control in all university administrative and support functions and services. Such a pursuance is meant to pivot around the provisions of quality and professional financial service to students.
The Directorate of Financial Affairs believes that the preferences that will guide its organizational behavior and objectives are as follows:
1. Mastering: carry out tasks as best as could be error-free.
2. Transparency: clarity and objectivity concerning all the grounds of decision-making and transactions.
3. Responsibility: respect the commitments promised while guaranteeing the university interests.
4. Professionalism: substantiate the principle of quality and the concept of excellence regarding performance.
5. Creativity: develop an environment of creativity and achieve an added value to work.
6. Team Spirit: work in a collaborative ethos in all the financial operations and transactions
The Directorate of Financial Affairs works on achieving a set of objectives which help with the accomplishment of its mission and values, such as:
- Develop the quality and efficiency of the financial planning of the university.
- Prepare the financial systems and policies.
- Unify the information systems as well as the financial and accounting database.
- Employ the banks in order to collect fees and obtain salary domiciliation.
- Develop the internal financial audit to secure a higher level of compliance.
The Directorate of Financial Affairs performs the following tasks:
- Organizes the university’s draft budget.
- Prepares the final financial statements and tax clearances and send them to the administrative and official parties.
- Recommends the financial policies of the university.
- Prepares the financial feasibility studies regarding deals and plans designed for the university.
- Pays the financial dues resulting from the execution of contracts that the university signed with other parties.
- Collects tuition fees from students based on defined schedules.
- Administers the university’s banking accounts and work on obtaining the best services and offers.
- Controls and rationalizes the costs through a constant observation with all the faculties and directorates of the university.
- Sends the periodical reports concerning the financial situations of the students’ balances and the monetary situation as well as other reports concerning the financial activities of the university.
- Supervises the processes of inventorying the stores and fixed assets.