The financial and economic activity of the International Islamic Academy of Uzbekistan
The Fund of the International Islamic Academy of Uzbekistan, including budget funds, is formed directly from the state budget on the basis of contractual funds, contractual funds paid for tuition by students and funds from the extra-budgetary development fund – directly from the Academy’s production, service and sponsorship funds. Funds accumulated in these areas are sent to professor-teachers and employees for their salaries, incentives for financial support, scholarships for students, staff social insurance and stocks of assets, strengthening the material and technical base, maintenance of premises and other expenses.
The Academy is working efficiently through extrabudgetary funds, including various services, training, Arabic, and sports courses. At the same time, various types of services are provided through the publishing house, Ziyo Media Center and at the expense of the Academy’s recreation area, funds that will generate extrabudgetary revenues.
At the same time, the Academy’s Innovation Fund was created to implement the Decree of the President of the Republic of Uzbekistan “On Additional Measures to Improve the Mechanisms for Introducing Innovations into the Sectors and Industries of the Economy” dated May 7, 2018. These funds will be directed directly to innovative research.
According to the approved structure of the financial and economic direction of the Academy, such departments as the Head of the Work department, the Planning and Finance Department and the Department of Accounting conduct work.
The planning and finance department has 3 employees, a manager, and 2 economists.
The accounting department has 6 employees, chief accountant, 2 deputy chief accountants, 2 accountants and a cashier.