The Islamic Development Bank (IsDB) is an international financial institution established with the aim of fostering economic and social development among member countries as well as all Muslim communities and their individuals in accordance with the laws of Shari’ah.
The establishment of the multi-lateral financial institution is also for the pursuance of the Declaration of Intent which is issued by the Conference of Finance Ministers of Muslim Countries, held in Jeddah.
The Islamic Development Bank is also highly committed to alleviating poverty, improving lives through science, technology and education, banking and finance, Islamic economics as well as enhancing cooperative spirit amidst all Islamic member states.
Islamic Development Bank Scholarship Programmes
In a bid to promote lives through education, the Islamic Development Bank has made available a scholarship scheme to aid willing students from member countries’ interest in the process of learning.
In accordance with the words of Dr. Hayat Sindi, Senior Advisor to the President for Science, Technology and Innovation Islamic Development Bank; “Human resources development lies at the heart of development agenda of the IsDB.”
The rate at which economies are developing globally, it is becoming obvious that nations have more reliance on quality human resources rather than the natural resources blessed in the earth; this is making the world of human activities increasingly competitive, thereby there is a need for empowering the people with the handiest tool for revolution – education.
Being a development bank has not limited IsDB to providing financial resources alone, they have further stepped up their effectiveness with ensuring adequate development in their member countries as well as to Muslim communities in non-member states. While building technical capacities, IsDB also puts education as a priority with the launching of the IsDB Scholarship Portal.
The scholarship program -which covers for all eligible students from member countries cum non-Muslim communities- is available for students pursuing degrees ranging from Bachelor’s to Master’s as well as Doctorate degrees; in relevant fields of study. A major aim of the scheme is that it will enhance life, transform communities and alleviate poverty cum economic growth through a good education.
Islamic Development Bank Member Countries
At the moment, the membership of the Islamic Development Bank is a total number of Fifty-Seven (57) countries. The condition for membership in IsDB is that the prospective country must be a member of the Organization of Islamic Cooperation (OIC).
The IsDB Board of Governors performs the task of setting terms, conditions, goals and amount payable annually by member countries to the Bank. Below is the list of member countries and their respective capital subscriptions at the end of the Gregorian financial year.
Country Percentage to total capital (%) Capital Subscription ($M)
Islamic Development Bank Eligibility
The scholarship scheme introduced by the Islamic Development Bank is of so much benefit. However, it can not be available to all students across the globe, therefore they have set criteria for acceptance of candidates to the program. Since the scholarship program is from a Muslim organization, the eligibility is for;
The final verdict of all being said is in the deep insight of the reformation, transformation cum revolution in the human resource world that Islamic Development Bank is introducing through education. Indeed, the organization innovative is making life better and easier for the less privileged.
The IsDB is pleased to announce that calls for scholarship applications for the academic year 2020/2021. Application Deadline: 28th February… Read More
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