Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Community applauds IDB's India scholarship program  Join our daily free Newsletter

MENAFN - Arab News - 09/09/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Islamic Development Bank Group's (IDB) community development program in India was applauded during its 30th anniversary for its scholarship scheme. The scheme has benefited nearly 4,000 Indian Muslim students so far.

IDB President, Ahmed Mohamed Ali, who attended the event in New Delhi recently, said that about 3,000 IDB scholarship students have already graduated and hold important positions in the country as doctors, engineers, academics and entrepreneurs.

"I was very happy to attend the program organized by the IDB Graduates Association (IGA)," Ali told Arab News while commending IGA members for conducting various programs for the benefit of Muslims and other communities.

The IDB chief emphasized his bank's desire to expand its activities India, especially in developing endowment properties and financing educational and health projects. He also spoke of his wish to support a Haj fund similar to Malaysia's Tabung Haji that helps Muslims perform Haj through the revenues from the investment fund.

"We welcome the new waqf (endowment) law in India and are ready to cooperate with them in developing endowment properties," the president said. Ali highlighted the prospects of introducing Islamic banking and finance in India and praised the Reserve Bank of India for licensing an interest-free non-banking financial company (NBFC) in Kerala.

Malek Shah bin Mohamed Yusoff, head of IDB's scholarship program, said Indian students received 33 percent of the bank's scholarships. "About 90 percent of IDB scholars work in India, contributing to its development," he told Arab News. IGA has set up a scholarship fund, which supports nearly 900 students.

IDB launched the scholarship program in 1983 extending scholarships to deserving students in India, Sri Lanka and Kenya. "India has shown a very good example with IDB graduates involved in various community services," said Yusoff. He pointed out that the IGA has proposed an educational academy in Assam with IDB support.

"IGA members have also presented a five-year strategic plan. This is something unique as we have not seen such initiatives from scholars in other countries," Yusoff said, adding that the scheme was aimed at producing highly qualified Muslim professionals and community leaders. About 12,500 students in 50 countries have benefited from the scholarship scheme so far.

Speaking to Arab News, Essam Al-Shanqiti, manager of the division said, "IDB's Special Assistance Division has financed 271 educational and health projects in India since 1984. We empower Muslim communities to become effective partners in the development of their countries through human capital development."

Al-Shanqiti said IDB's assistance for building schools and colleges, hospitals and health centers, training and cultural centers in India amounted to 45 million. About 20 of the 271 projects are under construction, while the rest have been completed. He said that these have been distributed in the different parts of the country, with 61 located in the north, 81 in the south, 72 in the east and 57 in the west.

 


Arab News




  MENA News Headlines
 Nov 28 2014 - UAE hints at body to monitor forex pegThe Peninsula
(MENAFN - The Peninsula)   An advisory body to the UAE government has suggested that the central bank review the country's currency peg to the US dollar, but local bankers said any change to the peg ...

 Nov 28 2014 - Qatar bourse index down by 3.72pc last weekThe Peninsula
(MENAFN - The Peninsula)  Qatari bourse fell on heavy selloff on latest Opec pessimism on output cut. The benchmark index plunged by 1.39 percent to finish at 13,330 yesterday.The entire sector ...

 Nov 28 2014 - Qatar calls for creating Common Islamic MarketThe Peninsula
(MENAFN - The Peninsula)  Speaking on behalf of all Arab countries, Qatar's Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani, yesterday at the Ministerial Session of ...

 Nov 28 2014 - Saudis block Opec output cutThe Peninsula
(MENAFN - The Peninsula)  Saudi Arabia blocked calls yesterday from poorer members of the Opec oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude ...

 Nov 28 2014 - Don't bypass oil firm, Libya rival govt warnsThe Peninsula
(MENAFN - The Peninsula)  Libya's parallel government controlling the capital will take legal action against buyers of oil bypassing the Tripoli-based state oil firm National Oil Corporation (NOC), ...

 Nov 28 2014 - Qatar Airways partners with Coca Cola IPTLThe Peninsula
(MENAFN - The Peninsula)  Qatar Airways (QA) has teamed up with Coca-Cola International Premier Tennis League (IPTL) as the presenting sponsor for the inaugural edition of the event.The IPTL is the ...

 Nov 28 2014 - Aljazeera to hold global hackathonThe Peninsula
(MENAFN - The Peninsula)   Aljazeera is organising its first hackathon where some of the most innovative minds in media and technology from around the globe will work together and collaborate on the ...

 Nov 28 2014 - GCC 'Summit key to boosting unity'The Peninsula
(MENAFN - The Peninsula)  H M King Hamad bin Isa Al Khalifa of Bahrain yesterday met GCC Secretary-General Dr Abdullatif bin Rashid Al Zayani, who is on a GCC tour.King Hamad stressed the importance ...

 Nov 28 2014 - India- New visa rules to boost tourist numbersThe Peninsula
(MENAFN - The Peninsula)   Tourists travelling to India from 43 countries, including the US, will no longer have to queue at their local consulates to obtain visas after New Delhi yesterday announced ...

 Nov 28 2014 - Pakistan talking to Qatar about LNG imports in 2015The Peninsula
(MENAFN - The Peninsula)  Energy-starved Pakistan is negotiating with Qatar to begin imports of liquefied natural gas (LNG) early next year, Pakistan's petroleum minister said on Friday.Pakistan is ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help