1. Introduction
With the growing interest in Islamic Economics, Banking and Finance, and the accelerated expansion of the Islamic financial industry, building human capital in these areas is increasingly becoming of critical importance. For this reason, the Islamic Research and Training Institute, member of the IDB Group, is sponsoring a scholarship program to help build future scholars and leaders in this vital domain.
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2. Objectives
The Objectives of this scholarship program are:
- To support post graduate studies and higher education worldwide in areas related to Islamic economics, banking and finance that serve the IDB Vision.
- To encourage promising students and practitioners to pursue higher education and professional degrees in areas relevant to Islamic economics and the Islamic financial industry.
- To support and encourage research in Islamic Economics, Banking and Finance.
- To enrich the Islamic literature with original and high quality research.
- To produce qualified personnel and scholars in Islamic Economics, Banking and Finance and increase the number of highly qualified researchers in the field
3. Scope
The Program supports
post graduate studies, including PhD,
MPhil, M.Sc., MBA, MA or equivalent degrees of higher education. The degree must be in one of the following fields:
- Islamic Jurisprudence of financial transactions (fqh al-mu’amalat).
- Islamic Economics,
- Islamic Banking and Finance
- Islamic Business Studies and related areas.
4. Place of Study/ Placement
The list of the institutions offering the areas of study will be decided by IRTI Management. The institution providing the
post graduate degree must satisfy the following conditions:
- Must be accredited from relevant accreditation bodies.
- Capable of providing quality program and support in the areas of study.
- Must satisfy the following conditions:
- Serve the objectives of IRTI Scholarship Program.
- Emphasize Islamic dimensions.(Islamic economics and Islamic banking and finance, etc.)
- Be on-campus for at least 70% of the program period.
- Lead to a degree endorsed and accredited by the host institution.
5. Benefits
As per the rules and regulations of the Scholarship Program, the candidate is entitled to the following benefits.
- Full tuition fees for the period of study.
- Living and Installation allowance.
- Student medical insurance when applicable.
- A round trip air tickets for scholar.
- Thesis preparation allowance
6. Eligibility
Applicants must satisfy the following conditions:
- Meritorious Students, potential to make outstanding contributions in the field of Islamic Economics, Banking and Finance.
- A proof of unconditional admission to a post graduate program (MA, MBA, MSc, MPhil or PhD) at an accredited institution.
- Proposed Research Plan for MPhil and PhD on Islamic economics, Banking and Finance.
- Aged maximum 40 years old
- 2 Letters of Recommendation.
- Having a good command of the language of the study.
7. Terms of Support
To avoid the risk of terminating support, the following conditions
must be observed:
- Candidate must maintain a very good academic performance or better for the entire period of the program.
- Candidate must comply with all related rules and regulations of the host institution.
- Statement of not accepting other scholarship
- At the discretion of IRTI, IRTI Scholarship Program may complement other support programs the candidate may have.
- Research proposals for thesis or dissertation, when required, must be approved by IRTI.
- Changes in the study or research plans must be approved by IRTI.
- Devote themselves to their studies on full-time continuous basis and provide the IRTI with periodic reports on their academic progress.
- The Master candidate must submit an Interim Report after six month from starting the project and a Final Report at the completion of the research work.
- The PhD candidate must submit an Interim Report after the first six months, followed by a Progress Report in the second year and a Final Report at the completion of the research work. These reports should be countersigned by the supervisor
8. Procedures (How to Apply)
The following documents are required to apply for IRTI Scholarship:
- A completed Application Form (see below).
- Curriculum Vitae of the applicant including (4) personal photos.
- A proof of admission to the post graduate program.
- A transcript of previous academic education.
- A plan highlighting how pursuing the degree contributes to applicant’s knowledge and skills in the specified areas. The plan must be approved by the concerned department or supervisor at the host institute when ever applicable.
- OSP or IRTI receives Applications (Deadline End March).
- IRTI Selection Committee pre-assesses eligibility by End April.
- IRTI selects best 20 meritorious candidates in May-June and pass their Applications to OSP to deal with them.
- OSP to do the Day to Day Management and Follow up.
Documents must be sent to the following address:
The General Director
Islamic Research and Training Institute/Scholarship
P.O. Box 9201 Jeddah 21413 Saudi Arabia
Or
by E-mail to: irtischolarship@isdb.org
9. Forms
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