RIYADH: The Takaful Foundation has deposited an amount of SR173 million as subsidy for 216,645 students spread over 17,500 public schools in various regions of the Kingdom.

“The amount was deposited in the schools’ accounts for distribution to student-beneficiaries,” said Dr. Mohammed bin Abdulaziz Al-Aqili, Takaful Foundation secretary general.

It is the second instalment of financial benefits for the current academic year for students studying in Saudi public schools. The subsidies are given to students who meet the conditions of entitlement in public schools identified last year.

“The Takaful Foundation is working to achieve strategic interdependence of goals,” Dr. Al-Aqili said.

These goals include the reduction of dropout and the development of scientific capacity for the benefit of the students in various regions of the Kingdom. He said the Takaful Foundation is giving due recognition to the individual as the most important building block of society and the most important pillar of sustainable development. He said that the Takaful Foundation is also giving other non-cash support for student-beneficiaries.

These include meals distributed daily in schools in the southern border of the Kingdom, winter gifts distributed in some villages in the northern areas and award for excellence for outstanding students.

“The foundation also offers training programs and rehabilitation for student-beneficiaries of the subsidy,” Dr. Aqili said.

He said that implementation of the subsidy is under the guidance of Education Minister Dr. Ahmed Al-Issa and in accordance with the national strategy for social development called for by Custodian of the Two Holy Mosques King Salman.

The foundation was established to give assistance to financially-strapped students in public schools so that they could continue their education.

It receives support of SR500 million yearly from the king.