International Shari'ah Research Academy for Islamic Finance (ISRA)

The International Shari’ah Research Academy for Islamic Finance (ISRA) invites qualified students with excellent academic achievements and active in co-curricular activities to apply for the Shari'ah Scholarship Award (SA) to pursue their higher education at either local or overseas universities. The Shari'ah Scholarship Award is part of the Fund for Shari'ah Scholars in Islamic Finance, which was established to enhance knowledge, research, talents, and intellectual discourse in the field of Shari'ah. The Fund represents Bank Negara Malaysia's commitment to strengthen the development of the Islamic financial industry.

FIELD OF STUDY

1. Postgraduate (Master or Doctorate) in Shariah or Islamic finance studies at recognized institutions of higher learning; 
2. Undergraduate studies at recognized institutions of higher learning in the field of Shari'ah with a double degree or a minor in one of the following disciplines: 
   • Islamic banking; 
   • Conventional banking; 
   • Accounting; 
   • Law; 
   • Economics; 
   • Finance; 
   • Management; or
   • other related fields appropriate to the development of the Islamic financial industry. 
3. CIFP, only for those with Shariah background.

ELIGIBILITY

1. Applicant from Shariah background.
2. The scholarship is open to citizens of all countries. 
3. Applicants have to secured admission at a recognized institution of higher learning. Applicants are required to pursue either a Bachelor, CIFP , Master or Doctorate programme, as defined above, in a fulltime programme. 
4. For a postgraduate application, applicants are required to have a CGPA of at least 3.5 or its equivalent. 
5. For an undergraduate application, applicants are required to have a CGPA of at least 3.3 or its equivalent (for the first semester result). 
6. Current students enrolled in the programmes specified above may also apply for the scholarship. 
7. Applicants should not be in receipt of any other scholarship award.

APPLICATION

An application for a scholarship must be submitted by hand or through registered post or courier service with the following documents, which must be in English:

1. Application form. Please download here; 
2. Photocopy of personal identification document (passport/identity card); 
3. Offer Letter from the institution of higher learning; 
4. Certified copies of academic certificates and transcripts; 
5. An essay of not more than 100 words on ‘why the applicant should be awarded the scholarship and how he/she plans to contribute to the Islamic financial services industry’; 
6. Two (2) letters of recommendation (only for a postgraduate scholarship application). Please use provided template.
7. Thesis proposal (only for Master and PhD application by research or coursework & research); and 
8. Other relevant materials to support the application.

Only shortlisted applicants will be notify for interview session.

Application Timeline: Applications are invited and accepted throughout the year. 

There is no employment bond attached to the scholarship.

All duly completed applications are to be forwarded to:

Shari'ah Scholarship Award

International Shari’ah Research Academy for Islamic Finance (ISRA),

Lorong Universiti A, 59100 KUALA LUMPUR.

Further information please email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it