Bank Negara Malaysia is offering a Syariah scholarship award and research grant as part of its initiative to enlarge and enhance the pool of Syariah scholars well equipped with the necessary knowledge and competencies in both Syariah and Islamic finance.

Bank Negara said on August 25 that the scholarship is offered to local and foreign candidates to pursue post-graduate studies in the field of Syariah relating to Islamic commercial jurisprudence in recognised universities as well as to obtain Certified Islamic Finance Professional offered by the International Centre for Education in Islamic Finance.

The research grant would be offered to organisations and institutions of higher learning, locally and abroad, to undertake research in the areas of Syariah relating to Islamic finance, takaful and Islamic capital market, it said.

“The objective of the grant is to intensify the volume of research activities, provide new insights and perspectives, as well as to promote innovative ideas and solutions in addressing contemporary issues in the Islamic financial services industry,” it said in a statement.

It added that the scholarships and grants are funded from the revenue generated by the RM200 million endownment fund for Syariah scholars in Islamic finance, which was established by Bank Negara this year.

Applications forms and qualifying criteria for the scholarship and grant are available at www.bnm.gov.my.

All applications for the Syariah Scholarship Award for 2006 must reach Bank Negara by November 30, 2006 and for the Syariah Research Grant by Dec 29, 2006.