WAFF's Financial Committee Holds it's First Meeting

Friday 14/05/2021
The Financial Committee of the West Asian Football federation (WAFF) has approved financial statements for recent, past, and future years. 

This came during the first meeting of the committee, which was held through video-conference, on Thursday May 6, 2021, headed by Ali Al Mutairi from Kuwait, with the presence of Khalil Al Salem, the General Secretary of WAFF, and the Vice President of the committee Ali Al Buainain from Bahrain and the members: Abdullah Kabuha from Saudi Arabia, Mansour Al Ansari from Qatar, Hassan Bashnfer from Yemen, Ahmad Kamaraldin from Lebanon, Colonel Zakaria Kanat from Syria and Luay Omeish from Jordan. 

After ensuring that the quorum was complete for the meeting, Al Mutairi welcomed the attendees, and on his behalf and on behalf of the members of the committee presented his thanks and appreciation to His Highness Prince Ali Bin Al Hussain, president of WAFF and the members of the Executive Committee for their confidence in choosing them within the membership of this committee, which seeks to work in parallel and in harmony to serve all matters and aspects related to the financial matters of WAFF. 

In his turn, Khalil Al Salem conveyed WAFF’s welcome to the members of the committee and expressed his appreciation and happiness for the executive committee’s choosing of this constellation of expertise formed from the committee, which will be relied upon for the financial matters of WAFF. 

Furthermore, Al Salem presented the audited financial statements for the year ended 2020, the independent auditor's report, a review of current and non-current assets, a list of revenues and expenditures, and the related explanations. 

The committee was briefed on the financial position of WAFF in terms of receivables due up to April 30, 2021 and the estimated budget for 2021, and the expected revenues and expenses it contains. 

In turn, Farah Badarneh, Director of International Relations, briefed the committee on the latest developments related to the support of the FIFA Forward Program and the support provided by AFC to the regional associations, as well as WAFF’s plan to take advantage of these two supports. 

She revealed that the FIFA and AFC were provided with the agenda of WAFF’s championships and the projected budget for 2021, and an attempt was made to take advantage of the full value of the support to cover the expenses of all age groups and women tournaments. 

In this context, Abeer Al Rantisi, Head of Competitions of WAFF, referred to the tournaments not covered by FIFA’s support program, and indicated that WAFF, as part of its strategy to develop football in the region, is seeking to include additional tournaments on the agenda of its competitions other than those included on the list of competitions under FIFA’s support program, considering that the importance of these tournaments in developing the game is high, and they play a role in allowing member associations to compete before FIFA and AFC competitions. 

In the absence of sufficient financial support to cover the costs of organizing these tournaments, Al Rantisi revealed to the Finance Committee that WAFF is looking forward to implementing the principle of "dividing the financial costs" of these tournaments between WAFF and the participating member associations and the host member association or dividing the financial costs between WAFF and the participating member associations in the event that it is organized in a neutral country, so that an estimated budget is drawn up for each tournament based on the host country and the number of participating teams. 

The committee was briefed on the decision of the Executive Committee of WAFF during its last meeting to impose financial fees on the participating member associations in the futsal championships in order to cover the costs of the tournaments as they are not subject to the support provided by FIFA and have no financial allocations. For each tournament, the allocation of financial costs will be determined when the host member association is determined. 

It is noteworthy that the tournaments that are not subject to the support of the FIFA and have no financial allocations are: WAFF U23 Men Championship, WAFF Futsal Championships, WAFF Beach Soccer Championships, and eWAFF tournaments. 

Finally, the Finance Committee agreed to disburse a sum of money from WAFF’s account to the family of Rami Qawaqzeh, a former employee of the federation since its inception until 2018, who passed away in April 2021 after a long and busy career within the field of sports, sports administration, sports for youth and football in Jordan, the Arab world, and in Asia in general.