Khushhali Microfinance Bank  in association with the United States Agency for International Development (USAID) awarded 27 new scholarships to the students from FATA studying at the University of Peshawar on December 29, 2008 at a ceremony hosted by the University. 

Khushhali Bank in association with USAID initiated the scholarship program in 2005, allowing universities across the country to provide opportunities to eligible students from marginalized areas in Sindh, Balochistan and FATA to acquire higher education.

Syed Zahid Raza, Head Human Resources, Khushhali Microfinance Bank, and Dr. Muhammad Iqbal, Professor of Statistics, Faculty of Numerical & Physical Sciences, University of Peshawar, awarded the scholarships to the qualifying students. 

With these 27 new scholarships the number of scholarships awarded to the students of University of Peshawar in 2008' alone comes up to 61, bringing the total number of scholarships extended to this university to 74 since the inception of the program. While the sum total of all scholarships awarded to various universities during the year 2008 amounts to an impressive 180. Since the start of the program in 2005, Khushhali Microfinance Bank has so far awarded 268 scholarships.