CIMB Group Holdings Bhd awarded RM5.6mil in scholarships to 13 youths across Asean under its 2021 CIMB Asean Scholarship programme in a virtual ceremony.
There were almost 11,000 applicants from Malaysia, Singapore, Indonesia, Thailand, Cambodia, Vietnam and the Philippines for the grant.
Applicants will receive a full scholarship covering tuition fees, living allowances and insurance among other related fees for any field of study at any established university worldwide.
They will also be paired with a mentor as they navigate their way into full-time employment.
CIMB Asean scholars will also be offered internship during study breaks and employment upon graduation, including the opportunity to enter CIMB’s structured management trainee programmes such as The Complete Banker (TCB) and TCB Digital.
This will ensure a holistic foundation and enable them to realise their potential through a well-rounded approach to professional development.
Some of the top-ranked renowned universities the 2021 CIMB Asean scholars are headed to include Imperial College London, University College of London, University of Toronto, University of Melbourne, National University of Singapore and Universiti Malaya, for degrees in various disciplines such as Economics, Data Science and Analytics, Environmental Technology, Computer Science, Engineering and Psychology.
Candidates were required to undergo a rigorous five-stage selection process comprising an online assessment, pre-screening, in-country interview, regional virtual assessment and a final regional face-to-face virtual interview.
CIMB Group chief people officer Gurdip Singh Sidhu said the scholarship programme represented the financial institution’s ongoing commitment to build a holistic foundation for Asean’s brightest minds.
“Since its inception in 2016, we have provided academic support and opportunities to Asean-based scholars, opening doors for high-potential students to not only pursue their higher education of choice, but to also develop their career as part of CIMB Group.
“Our hope is that they will grow and become future leaders and drivers of the Asean economy.
CIMB Foundation chief executive officer Rafe Haneef said promoting education was one of the key impact areas of CIMB Foundation.
“Education is crucial to ensure that youths have the right knowledge, skills and foundation for the future, whether they choose to enter the workforce, start a business or pursue a trade.
“By enabling them to achieve their higher education of choice, we are investing in not only their future, but also in the sustainability of our communities,” he said.
Rafe added that as the youths pursue their education and realise their academic aspirations, CIMB’s hope was for them to be inspired to give back to the community.
This year, the programme was expanded to include Master’s degree students and those who have a minimum of one academic year left in their course of study.
Previously, the scholarship was limited to those pursuing their Bachelor’s degree and those with at least two academic years remaining.
The expansion of eligibility criteria was introduced because of the Covid-19 pandemic that affected the financial circumstances of many students. For Malaysians, 80% were from the M40 and B40 categories.
Since 2016, CIMB has awarded over RM54mil in scholarships to 92 scholars.
To date, 28 have started their careers with CIMB.
In Malaysia, the scholarships are granted through CIMB Foundation, while in other Asean markets, they are awarded by the group’s respective local banking entities.