Regulation Organizing the Management of Awqaf in Universities · Article 15

1.Regular maintenance and refurbishment of the university awqaf, given priority over other disbursements, at a rate not exceeding (15%) of the annual net income. Emergency maintenance of the university waqf takes priority over all other disbursements and beneficiaries without adherence to this percentage.

2.General administrative and operational expenses of managing the university awqaf, not exceeding (20%) of the annual net income.

3.Remuneration for the Chairman of the Supervision Council, its members, and the Secretary for each session in the amount of SAR (1,000), with an annual limit not exceeding SAR (12,000).

4.Remuneration for members of the Supervision Council, with the total remuneration for the Chairman and members of the Supervision Council not exceeding (5%) of the annual net income, divided equally among them, and the annual remuneration for each individual not exceeding SAR (250,000).

5.A percentage not exceeding (25%) of the annual net income from investments is returned to the asset of the university awqaf and invested for the development of the university waqf assets. The assets that result from such investment are treated as part of these awqaf, subject to the provisions of this statute.