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University Runs Awqaf Workshop
King Khalid University, Media Center
Within the workshop of establishing an endowment (Awqaf program for King Khalid University, in collaboration with the Creative Centre for Studies and consultancy and training at King Abdulaziz University, former Minister of Labor and Social Affairs, Prof. Ali Al Namlah, said that private universities and institutions should be financially self-sufficient to some extent.
Prof. Al Namlah explained that the project of establishing Awqaf for King Khalid University could provide the university with its needs. The project needs a long time, thus it would be enough to just start now, citing olive tree, which is grown now but for coming generations. He added that there were universities that were established depending on endowments. The best example of this is Harvard University, whose endowments are at an estimated $36 billion.
Prof. Al Namlah said: "Why should the government always do everything! We must live the current stage and rely on our own resources, using endowments." At the end of his speech, Prof. Al Namlah confirmed that we should utilize domestic expertise, which are experienced in establishing endowments.