Islamic Development Bank (IDB): Refundable Loan (Qarz-e-Hasana) to Indian Students

Great opportunity to financially weak section of the community. It is a refundable loan (Qarz-e-Hasana) from Islamic Development Bank (Saudi Arabia) to Indian Students.

Nature of the Program:

The scholarship is an interest-free loan (qarz-e-hasana) to students. It covers cost of living, clothing, books, tuition fees. Recipients are therefore required to refund the scholarship in easy installments after expiry of one year of the completion of graduation or after settling down in profession whichever is earlier.

This is necessary because the scholarship is a grant from the Bank to the local community to enable it to sustain into the future to benefit deserving students to enjoy the same educational opportunity.

Eligibility:

The scholarship is open to students who are meritorious but financially needy and have passed SSC (10+2) examination and are desirous of pursuing undergraduate professional studies in session 2014-2015 in one of the fields of study approved under the program. The Master Degree Courses and the students going abroad for study do not fall within the purview of this program. Students joining Degree Courses after Diploma will not be considered for scholarship.

To Qualify for Scholarships, Students:

  • Must have secured minimum 60% marks in English, Physics, Chemistry and Biology / Mathematics in SSC (10+2) examination except for students from Maharashtra, Andhra Pradesh, Karnataka, Kerala and Tamil Nadu who should have 70% in the aggregate in above four subjects.
  • Applicants for admission to BBA + MBA (integrated course) 4 / 5 years and LAW should have scored minimum 60% marks in English and optional / elective subjects in SSC (10+2).
  • Age not over 24 years and not in receipt of any other scholarship.
  • Students or their parents are financially weak and unable to pay for their education.
  • Not opting for payment or self financing seats.
  • Promise to serve their community and country on completion of their studies.

Approved areas of study under the Program:

Bachelor’s Degree Courses in Medicine (All branches including Ayurveda, Unani and Homeopathy) Dentistry, Pharmacy, Veterinary Science, Physiotherapy, Nursing, Lab Technician, Bio-Technology and Microbiology, Engineering (all branches) Agriculture, Fisheries, Forestry, Food Technology, Bachelor of Business Administration and Bachelor of Law.

Refer to the attachment for more details: IDB Application Form

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