Yes, that story about about a Black Muslim getting financial assistance for Obama at Harvard Law School was revealed by a former NYC official named Percy Sutton back during the presidential campaign. The funding supposedly came from a member of the Saudi Royal family, and was transferred via Khalid al-Monsour to Harvard.
Obama is not the only Harvard Law student to receive Saudi financial backing. The practice continued into the period during which Harvard Law Dean Elena Kagan (and SCOTUS nominee) headed the law school and likely continues to this day.