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IDB Scholarships for Muslims, Africa and Asia
The IDB Scholarship Programs is more than just a scholarship programs in the traditional sense of a straight financial assistance to the needy and qualified students.
It is also a tool for the improvement of the socio-economic conditions of the Muslim communities as a whole. It is a scholarship programs and a development programs at the same time, since the scholarship is given as an interest-free-loan (qard hasana) to the students and as a grant to the Muslim communities to which they belong.
Under the programs, the students are required to repay the loan after graduation and gainful employment, in easy installments, to a Waqf (Trust) set up by the IDB in each non-member country benefiting from the programs. Besides, the students are also required to take part in the development of their communities, through their respective professions.
The repaid fund will be used to provide scholarships for other deserving students from the same community to complement the IDB programs and to ensure its continuity in the long run, while the community development services rendered by the students and graduates will contribute to the overall development of the community.
The Scholarship programs is also a joint venture to be implemented by the IDB and the Muslim communities. The Counterpart Organisations are requested to announce the programs on behalf of the IDB, to deal with the applications and the pre-selection process (which includes interview and verification of documents), to distribute stipends to the IDB students and to undertake other activities.
They are also required to form the Trust with guidance from the IDB to facilitate the loan refund and to launch and manage the post-study programss to support community services and development.
The IDB and its partners have a dream and a vision to contribute to the development of the human potential of the Muslim communities. In brief, the IDB wishes to develop the MIND (of the recipients of the IDB Scholarship programs), the Character (of the IDB-sponsored students/scholars) and the Community itself (which is the final target of the IDB development investment).
Through the Guidance and Counselling (G&C) activities, the IDB also wishes the young Muslim professionals to be ready to dedicate themselves to their communities and countries. This is not possible without the motivation gained by proper understanding of, and commitment to Islam in all aspects of their lives.