Kuala Lumpur, 4 December 2017 – INCEIF today signed a Memorandum of Understanding (MoU) with NAMA Foundation that will see the Kuala Lumpur-based foundation awarding scholarships to citizens from five countries to pursue INCEIF’s post-graduate programmes. The five countries are namely Indonesia, Kyrgyzstan, Lebanon, Palestine and Tanzania.
The scholarships from NAMA Foundation will cover tuition fees and living allowances for each student that is selected and has successful gained entrance to study at INCEIF. Selections made by NAMA Foundation will be based on academic excellence, working experience and potential contribution to the Islamic financial services industry.
(From left to right) Chairman of its Executive Committee Syeikh Abdelelah Salem Mahfouz and Dr Saleh Bazead Saleh Mubarak, Chief Executive Officer, NAMA Foundation witnesses as the Chairman of its Trustee Syeikh Saleh Salem Mahfouz signs the MoU with INCEIF who is represented by President & CEO Prof Dato’ Dr Azmi Omar and Mr Ezamshah Ismail, Dean School of Professional Studies.
President & CEO Prof Dato’ Dr Azmi Omar signed on behalf of INCEIF, witness by Mr Ezamshah Ismail, Dead School of Professional Studies, while NAMA Foundation was represented by Chairman of its Trustee Mr Saleh Salem Mahfouz and Dr Saleh Bazead Saleh Mubarak its Chief Executive Officer.
Prof Dato’ Dr Azmi said: “We have received applications from people all over the world to study at INCEIF. Unfortunately, in some cases, while they met the entry requirements, they were unable to pursue their studies due to financial constraints.
“Therefore, INCEIF truly appreciates NAMA Foundation’s generosity in offering these scholarships especially to countries where we are seeing increased interest and activities in Islamic finance. The helping hand would certainly be welcomed by those who qualify but lack the sponsorship. With some financial support for them to pursue education, it would hopefully empower them to develop their respective homeland”.
NAMA Foundation now joins the list where a number of prestigious grant providers are already providing financial assistance for a number of INCEIF students. They are Yayasan Khazanah, Mastercard and Yayasan Bank Rakyat, just to name a few.
Apart from the scholarships, the MoU will also see both parties jointly participate in research and publications that promote Islamic finance as well as activities relating to training and education in the industry.
NAMA Foundation was established in 2004 with the objective of providing funds for scholarship and education loan; educational institutions activities; and capacity building.