Recognizing the importance of qualified human resources for social advancement and sustainable development, the Islamic Development Bank (IsDB) has been committed to focusing on human capital development alongside its mainstream development financing activities. One of the ways IsDB is achieving this is through its scholarship programs aimed at empowering Muslim communities in non-member countries and supporting students in member countries.
IsDB Scholarship Programme for Muslim Communities in Non-Member Countries (SPMC):
The SPMC, initiated in 1983, offers opportunities for academically meritorious and financially disadvantaged young Muslim students from non-member countries to pursue undergraduate studies in various fields such as medicine, engineering, computer sciences, agriculture, and more.
IsDB Master of Science Scholarship Programme (M.Sc.):
Launched in 1998, the M.Sc. Scholarship Programme supports the development of human capital in 20 of the least developed member countries (LDMCs), especially in science and technology, to facilitate their overall progress.
IsDB Merit Scholarship Programme for High Technology (MSP):
The MSP, which began in 1992, focuses on providing advanced studies and research opportunities in 16 applied science and high technology areas crucial for the development of member countries.
IsDB-ISFD Scholarship Programme:
In collaboration with the Islamic Solidarity Fund for Development (ISFD), the IsDB-ISFD Programme was established in 2019 to reduce poverty in 21 Least Developed IsDB Member Countries (LDMCs). It offers educational opportunities for academically strong but financially needy young individuals to pursue bachelor studies or technical diplomas.
Guidance & Counselling Activities:
IsDB understands the importance of its graduates as agents of socioeconomic development. To support them further, the bank initiated the “Guidance and Counselling Activities” program. This includes appointing honorary counsellors to guide students, organizing annual seminars for personal development, offering mentorship and learning meetings, as well as educational development seminars and tutoring during vacations.
Administration of the Programs:
The Special Assistance Division (SpAD) manages the scholarship programs under the supervision of the Internal Executive Committee (IEC), which comprises IsDB Senior Management members, with the IsDB Vice President, Operations, as the chairperson. The SpAD handles application processes, student selection, placement, financial support, and academic performance monitoring to ensure timely completion of studies.
In conclusion, the IsDB scholarship programs exemplify the bank’s commitment to fostering human capital development and supporting students’ educational pursuits. By investing in education, IsDB aims to promote economic development and shared prosperity for Muslim communities worldwide.