Awarding Body: Bank Negara Malaysia
Institution: Recognised institutions of higher learning in the field of Shariah or International Centre for Education in Islamic Finance (INCEIF)
Level / course of study: Postgraduate study specialising in fiqh muamalat or the Chartered Islamic Finance Professional (CIFP)
Website: http://www.bnm.gov.my/index.php?ch=200&pg=618&ac=529

The Shariah Scholarship Award is part of the Fund for Shariah Scholars in Islamic Finance, which was established to enhance knowledge, research, talents, and intellectual discourse in the field of Shariah. The Fund represents Bank Negara Malaysia's commitment to strengthen the development of the Islamic financial industry. [See also: Shariah Research Grant]

The Scholarship is aimed at enlarging the pool of Shariah scholars who are well-equipped with the necessary knowledge and competencies in both Shariah and Islamic finance.

Eligibility criteria: 

• Possesses a bachelor's degree in Shariah studies from a recognised institution of higher learning, achieving at least a second class upper or its equivalent
• For the CIFP Scholarship, a special consideration will be accorded to those with a diploma (or its equivalent) in Shariah studies, but they must have at least 5 years working experience in the financial industry
• Secured admission to either a Masters or Doctorate programme in Shariah, specialising in fiqh muamalat, at a recognised institution of higher learning, in a full-time programme, OR the CIFP programme conducted by INCEIF
• Current students enrolling in the specified programmes at recognised institutions of higher learning may also apply for the scholarship
• Not a recipient of any other scholarship awards
• Scholarship recipients will not be bonded.

Areas of study: 

• Post-graduate (Masters or Doctorate) study at recognised institutions of higher learning in the field of Shariah, specializing in fiqh muamalat; OR
• Certified Islamic Finance Professional (CIFP) programme conducted by the International Centre for Education is Islamic Finance (INCEIF). [More information about CIFP at INCEIF.org]

Award benefits:

Postgraduate scholarship: 

• Tuition fees
• Examination fees
• Quarterly subsistence allowance
• Allowances for books, equipment, return airfare, clothing, relocation, end of study and thesis/dissertation completion will be provided if applicable

CIFP scholarship:

• Registration fees
• Examination fees
• Study allowance

Application procedures: 

• Applications must be submitted with the following documents which must be in English:
  o     Application Form [Word, 208K]
  o     Certified copies of academic certificates and transcripts (with English translation if the              original copy is not in English)
  o     Letter of Offer from the institution of higher learning or INCEIF
  o     Photocopy of personal identification document (passport / birth certificate / identity card)
  o     An essay of not more than 300 words on why you should be awarded the scholarship and 
        how you plan to contribute to the Islamic financial services industry.
  o     Two (2) letters of recommendation written by individuals under whom you have studied or 
       worked, and who are able to comment on your qualifications for the award (only for post
       graduate scholarship application). Please use the following template [PDF, 14K]
  o     Thesis proposal (only for post-graduate scholarship application)
  o     Other relevant materials to support the application
• Only short-listed applicants will be notified, and may be required to attend an interview.
• Applications are accepted throughout the year. However, applications received will only be evaluated twice a year (31st December and 30th June every year or as advertised).

Currently, the deadline for the CIFP full-time programme application to be considered for the scholarship is 11 April 2010 (international applicants) and 25 April 2010 (Malaysian applicants).

For enquiries, please contact

Shariah Scholarship Award
International Shariah Research Academy
2nd Floor, Annexe Block, Menara Tun Razak
Jalan Raja Laut, 50350 Kuala Lumpur
Malaysia

Tel: +603-2781 4000
Fax: +603-2691 1940
Email: info@isra.my