The Islamic Development Bank (IDB) is an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah.
The key objectives of the Bank are to foster economic development and social progress of member countries and Muslim communities individually, as well as jointly in accordance with the principles of the Islamic Law.
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Under its aegis, the Bank funds and offers scholarship programs towards encouraging education and professional grooming of the people belonging to its member countries. The scholarships are extended to Muslim communities in non-member countries too with the key motto being-“Developing the Ummah Worldwide.”
In brief the following are the three scholarship programmes offered by IDB:
-Scholarship Programme for Muslim Communities in Non-Member Countries
-M.Sc Scholarship Programme in Science and Technology for IDB Least Developed Member Countries
-Merit Scholarship Programme for High Technology
Let us understand each one in more detail:
Launched in 1983, this progamme is for the Muslim communities residing in non-member countries. The focus revolves around augmenting the socio-economic status, while helping preserve the religious and cultural identity of the community. Scholarships are extended to students who are merit holders but hail from financially needy families.
Young Muslim students can avail of interest-free loans to pursue undergraduate or first-degree study in professional courses. The grant is given to the community and once they successfully finish their studies and are employed, they are supposed to repay the loan amount. Students return the amount to the local IDB trusts which is further used to award additional scholarship to other such students. The community looks forward to building a team of professionally successful Muslims which will further advances the progress of their local communalities.
The fields of study supported include medicine, engineering, agriculture and related fields from these disciplines.
The scholarship programme covers all related expenses; which includes tuition fees, health related expenses and living costs through the period of the course.
One of the key areas wherein the IDB supports students is towards a comprehensive community development support where detailed exercises are planned to equip them to take the lead in developing their communities and countries. This all round development programme helps them to function as well rounded personalities in the society.
Launched in 1988, the IDB M.Sc.Scholarship Programme is for students from eligible member countries. This scholarship aims to help the eligible member countries develop their resources within the important areas of science and technology. The objective is to enable students from the intermediate level to participate in the IDB Merit Scholarship Programme for High Technology (MSP).
The fields of study include; science, engineering, medical sciences, technology, statistics, econometrics, operational research, demography and related categories. The grant takes care of complete academic expenses, living expenses, health insurance, conference participation fees, computer allowance and round trip air-tickets to and from the place of education.
Launched in 1992, this programme is focused towards the development of technically qualified people from the IDB member countries. Scholars and researchers are offered this scholarship to undertake advanced research and study in the fields of applied science and technology. The scholars are expected to fulfill the needs for high quality personnel to assist the growth in the critical fields of science and technology. This plays a huge role in the overall development of the country and the community.
The programme offer scholarships for study and research at two levels:
-3-year Ph.D. study/ research
-6-12 months of Post-Doctoral research
In order to avail this scholarship, an individual needs to be over 35 years for PhD and 40 years for Post-Doctoral research. These individuals are encouraged to pursue their study at some of the top and most reputed institutions worldwide.
While the fields of study are arrived at based on the needs of the country, at that point in time, currently it is under agriculture or food production, health or medicine, water resources, desertification, energy, infrastructural development, nanotechnology, pure science subjects and development focused ICT.
The benefits under the scholarship programme include complete academic expenses, all academic expenses, living allowances, health Insurance, round trip air-tickets to and from place of study, conference participation allowance, scientific paper preparation allowance, computer allowance (for Ph.D. only) and family allowance (for Ph.D. only).
Go through the details for more information regarding Islamic Development Bank Scholarships.