In line with overall strategy of Khushhali Microfinance Bank to strengthen its’ role and brand image in marginalized territories and attract to promote education and enhance accessibility to educational institutions as part of its social corporate responsibility mandate, KMBL commenced Khushhali Bank Scholarship Scheme (KBSS) in 2005.
A total of 332 scholarships amounting to PKR 76,890,465 have been awarded as of September 30, 09, to domicile holders of Sindh, Balochistan and FATA, of which 244 scholarships valuing PKR 52,548,012 were awarded to domicile holders of tribal areas. A total of 62 students have completed their degrees as of September 09.
A merit based and transparent eligibility criterion for awarding of scholarships was established. To be eligible
a) a student had to hold a domicile of any area of Balochistan, any rural territory of Sindh and FATA
b) student was to have an offer of admission to a two year full time academic program of study leading to a Master’s degree or two to four years program leading to the award of a Bachelor’s degree in business disciplines leading to a profession in the field of banking and finance
c) the student had to qualify for financial assistance in accordance with established university/institute’s policy. The declared gross annual income of the student’s parents/guardian was not to be inexcess of PKR 300,000/
d) the continuation of scholarship to students was subject to their ability to maintain minimum academic performance as prescribed from time to time and in compliance with the academic /discipline rules of the university/institute.
The scholarship covered the University tuition fees, examination fees, course related material/ books, and all such dues and fees (excluding fines) as the University may, from time to time, determine as being payable by every student of the University, as well as boarding & lodging expenses in accordance with the rates determined by the University.
KMBL singed MoUs with eight universities namely, Lahore University of Management Sciences (LUMS) Lahore, Institute of Business Administration (IBA) Karachi, IBA Sukkur, Balochistan University of Information Technology, Engineering and Management Sciences (BUITEMS) Quetta, Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST) Karachi, Institute of Management Sciences (IMS) Hayatabad Peshawar, City University of Science & Information Technology, Peshawar and University of Peshawar.
During the span of KBSS, 17 scholarship distribution ceremonies were held. Most of the scholarship events were covered in the press releases in the national newspapers. Electronic media also covered several of the events in the news bulletins. KBSS was a component of the project “Developing Non-Bankable Territories for Financial Services”, which concluded on Sep 30, 2009.