Funds Department

The (Investment) Fund was established as an independent department at the university in the fifth month of 2010, and the department, through its staff, invests the fund's funds in accordance with the investment policy determined by the Board of Trustees and specialized committees in line with the system and instructions of the investment fund at the university. On 12/6/2022, the Dean's Council issued a decision to include (Provident Fund and Student and Donations Fund) in the investment fund to become one department under the name of the Fund of Funds

The Investment Fund has offered several financing programs in accordance with the Islamic Murabaha system for the benefit of university employees, and these programs included all the needs of university employees from land, cars, electrical and cellular appliances, computers, and home appliances, in addition to many other financing options that do not conflict with the general policy of the fund

The Fund is managed by a committee of university staff, which formulates the future policies of the Fund. In light of its financial capabilities, the Fund aspires to expand the investment process through the preparation of feasibility studies for investment projects that benefit the Fund and achieve profits. The Fund also seeks to expand the financing programs by increasing the periods and ceilings of financing, reducing Murabaha rates, and searching for sources of funding for the Fund's programs within the university

The Provident Fund also provides its services to employees by granting good loans and withdrawing dues to employees for those who wish and for those who meet the conditions, and the Fund invests part of its money in the investment fund, which benefits workers by distributing the profits of these funds to their dues

The Student Fund also provides its services through the payment of the dues of students who were employed during each semester, which contributes to the provision of financial support so that these students can continue their educational achievements

internal Audit section
1- Audit all exchange documents and financial constraints of each of the Department's divisions for the purpose of accrediting the exchange, its outlets and sources.

2- Audit of the balancing of the revolving funds, the final accounts and their annual reports.

3- Checking bank conformity for all funds with the approved bank.

4- Provide suggestions for the development of the precise working mechanisms of each fund.

5- Assisting in the preparation of instruction projects at the university within the department's competence.

6- Audit the decisions issued by the Department and follow up the procedures for their implementation.

7- Any other tasks or activities assigned.​

 

Investment and Financial Services Section
The division implements the Student Fund Regulations in force at the university. The Fund is responsible for supporting students’ academic excellence, encouraging respect for manual work, and meeting students’ needs by providing grants, loans, or employment opportunities for specific hours within the university.

According to Article (3), the Fund’s resources consist of:

Annual allocations from the university budget.
Gifts, donations, grants, and bequests provided to the university for the Fund’s purposes.
Revenues generated from investing the Fund’s funds.
Repayment of loans.
The division also implements the regulations governing the Investment and Financing Fund in force at the university.

Voluntary Fund Division:

The division implements the Voluntary Fund Regulations in force at the university. In accordance with Article (3) of the Voluntary Fund Regulations, the division carries out the following tasks and responsibilities:

Providing scholarships for Jordanian students at the university.
Providing scholarships for non-Jordanian students interested in studying the Arabic language and Islamic civilization.
Providing various loans and financial assistance to university students.
Supporting the establishment of endowed chairs inside and outside the university.
Financing certain scholarships to and from the university.
Supporting specialized graduate studies and scientific research approved by the university.
Financing certain construction and development projects at the university.
Carrying out any other tasks approved by the Council.
According to Article (2) of the Voluntary Fund Regulations, the Fund’s resources consist of funds provided to achieve its objectives through endowments, bequests, donations, and grants.
Implementing the provident fund system in force at the university. The Provident Fund Division is responsible for the following tasks and authorities in accordance with Article (10/d):

Implementing the general policy of the Fund approved by the University Council.
Investing the amounts accumulated in the Fund in the manner it deems appropriate for the benefit of the Fund.
Approving the financial statements and the annual report of the Fund.
Carrying out any other tasks or authorities stated in the Fund's system.

investment Division

The Division seeks to invest the Fund's money and allocate the resulting revenues to support various aspects of the University's activities and finance its development projects under the provisions of this system, while achieving the intended objectives of the Fund. The phrase “supporting the various aspects of the University's activities and financing its development projects" does not include covering the University's current or emergency expenses, except in the cases and within the limits stipulated in this system.

Correspondence Office:

Following up on incoming and outgoing correspondence, as well as secretarial and archiving tasks.
Following up on outgoing mail to all university departments.
Processing incoming and outgoing official documents.
Following up on internal correspondence within the department.
Distributing correspondence within the department to the relevant sections.

Achievements

1. Providing financing programs for university employees, including cars, land, electrical and mobile devices, and other employee needs. The total value of financing granted between 1/1/2021 and 1/9/2022 amounted to approximately JOD 1,955,000 through 470 financing transactions.
2. Al al-Bayt University Water Factory: Sales during the period from 1/8/2021 to 1/9/2022 reached approximately JOD 120,000.
3. Contracting with companies: A total of 12 companies, both within and outside the governorate, were contracted to meet the various needs of university employees.
4. Restructuring the Investment Fund into the Funds Department and merging the Employees’ Savings Fund, Student Fund, and Donations Fund with the Investment Fund to provide better services for employees and students.
5. Completing the Comprehensive Investment Fund Guide, representing a qualitative and organizational advancement in the Fund’s operations.
6. Establishing an exhibition of electrical appliances, furniture, and electronics within the department to serve the university’s academic and administrative staff.
7. Establishing an investment deposit for the Investment Fund – Al al-Bayt University Water Factory, aimed at generating an annual investment return to enhance the factory’s revenues.
8. Approving an investment deposit with a Jordanian bank in favor of the Investment Fund, aimed at diversifying the Fund’s income sources, expanding investment opportunities, and distributing investment risks.
9. Bringing in an external investor for the University Water Factory, aimed at adopting secure investment strategies, reducing secondary costs, and maximizing returns from the factory’s operations.