IDB offers interest-free loan to Muslims for medical, engg courses

IDB offers interest-free loan to Muslims for medical, engg courses

Islamic Development Bank (IDB), Jeddah has invited applications for scholarship cum interest-free education loan from meritorious but financially needy Indian Muslim students to help them to pursue professional courses such as Medical and Engineering.

This loan is for those students who have taken admission or intend to in academic year 2010-2011 in the first year of any degree courses of Medicine and Engineering including Homeopathy, Unani, Ayurvedic, Agriculture, Fisheries, Forestry, Food Technology, Microbiology, Biotechnology, Bachelor of Business Administration andBachelor of Law.

To get this loan it is necessary that aspirants should have obtained 60% marks in English, Physics, Chemistry, Biology/Mathematics in 10th class examination.

The applicants will be interviewed by a selection committee and selected ones will be provided with the cost of living, clothing, books, tuition fees and medical expenses during the courses.

It is to be noted here that as it is an interest-free loan, recipients, therefore, will have to refund the amounts in easy installments after they settle down in profession. So that others can get benefit to enjoy the same educational opportunity.

Islamic Development Bank started this program in 1983 to promote professional education among Muslim community in various countries including India. In India this program is operated and monitored through Delhi based NGO Students Islamic Trust (SIT). So far 1163 students completed their courses and settled down in their professions with the help IDB loan. At present there are 645 students who are getting benefits from it and pursuing professional studies.

Talking to TwoCircles.net from Delhi, Mohammad Saifullah Rizwan, Executive Secretary of SIT, said: “It is a golden opportunity for the talented Muslim students who are unable to do professional courses due to financial problem. The students who passed matriculation with minimum 60% marks and have desire to go in professional fields should get benefit from this program.”

On number of students who will be selected this year he said: “We will select 250 students through interview. The Selection committee formed for this purpose will interview the applicants in almost all the states, then we will issue the list of selected students.”

Asked about amount that will be given to the selected students he told: “Each student of Medical is given Rs.45000/ and student of Engineering is given Rs. 40000/ per month till they complete the courses.

“They will have to return the amounts they receive from IDB after the completion of courses or after they get settlement in their profession so that it can pave the way for other students belonging to the same category and who want to do similar courses” he added.

The last date for submission of application is 25th August 2010. Application forms can be downloaded from SIT website http://www.sit- india.org/ scholarship. html or it can be obtained from SIT office.

Address:

Mohammad Saifullah Rizwan

Executive Secretary

The Student Islamic Trust

Abul Fazal Enclave, Jamia Nagar

New Delhi-110025

Contact: 91-9990630127, 91-11-26941028 

Posted in: ISLAM Articles