Hamburg, Germany, November 28, 2016 --(PR.com
)-- The acquisition of Hayat University was completed today between its founder and owner, Mr. Najief A Nouraden and Mr. Waria Salhi, an investor and chairman and founder of Al-Aman Finance.
The 3-month long negotiation concluded today in Hamburg, Germany between both sides. Mr. Nourden conveyed his full interest and rights in Hayat University over to Mr. Salhi.
In a ceremony for acquisition contract signing, Mr. Nourden stated, "There were three final offers and interests on acquiring Hayat University, and it was not an easy decision. However, I have decided to accept Mr. Salhi offer because I felt sincerely that his aim was not pure financial gain, but rather he was interested in building the University and providing international level education to many generations in Kurdistan, this was my dream and I feel Mr. Salhi will carry on this dream to next level, I feel Mr. Salhi was right choice and I wish him and his team best of luck."
In his remarks, Mr. Salhi said: “I understand Hayat University faces some challenges. Mismanagement and absence of professional administration caused the university to fall behind on its mission and obligations affecting the reputation and standing of the university. However, I am ready to take on these challenges and turn Hayat University into one of the top universities in Kurdistan and Iraq. My team will work very closely with KRG Ministry of Higher Education, I will raise necessary capital to immediately settle all of Hayat obligation and requirements, restructure the management, and I will hire a team of experts to help us manage the University as world class university. Managing and running a university solely for a business gain in my opinion may not be a correct approach, providing high quality education service shall be first goal, the business gain will be secondary. This is how Hayat can be turned to highly respected and successful University in Kurdistan.”
Mr. Salhi has assembled temporary administration team (TAT) that includes local and foreign professional experts. TAT is scheduled to start the takeover of the University on Saturday, November 25, and continue to assess the current conditions of the University. Among other tasks, TAT is to prepare a full report within two weeks, identifying the University administration and management weaknesses and deficiencies and recommending measures that would lead the University to perform well and to meet its financial obligations on schedule.
Hayat University is founded in 2008 in accordance with Kurdistan Legislation No. 10 and KRG Council of Ministers’ decree No. 2452. Hayat University is one of the 12 licensed private universities in Kurdistan, Hayat Uni consist of five colleges and 11 departments, it has student body of over 3000, with a faculty of 150 members. Hayat University Campus located on 400 Donim/Acres with building facilities can accommodate to 6000 students, Hayat Uni has is license to establish medical college and learning hospital, Hayat located near Kirkuk Road in Erbil city the KRG Capital.
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