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SCHOLARSHIP SCHEME FOR HIGHER STUDIES
was launched in order to bring Graduates and Post-Graduate programmes under the umbrella of Scholarship Grants as well. The salient features of said scholarship scheme were circulated vide our circular # MCBEF/KNK/786/GEN/04 dated 12th January 2005.
A total of 06 applications were received by us during the period of 1st March till 30th April 2007, out of which 04 applications were short listed as they fulfilled the eligibility criteria as laid down in above circular. All the applications of short listed candidates were scrutinized by a Committee and after a thorough examination four (02) candidates were selected strictly on MERIT and their names were circulated vide our circular # MCBEF/JI/GEN/01 dated: 20th July 2007.
MCB Employees Foundation is now renewing the above-said scheme viz. SCHOLARSHIP SCHEME FOR HIGHER STUDIES for the year 2008. In this scheme, we will continue providing assistance to all our successful candidates of the year 2007 (subject to Rules & Regulation of this scheme) and we will offer five (5) new scholarships for new candidates for the year 2008 (without discrimination of gender) to the children of Retired / Deceased Ex–MCB Employees up to the level of AVP, (who served MCB for a period of at least 10 years for retired and 5 years for deceased) for pursuing degree level qualifications in the following academic fields:
- Business Administration (BBA / MBA) (Preferably from LUMS / IBA / PIMSTEC / ZABIST / NUST / GIKI)
- Computer Science (BCS / MCS) from (LUMS / IBA / PIMSTEC / ZABIST / NUST / GIKI)
- Medicine (MBBS / BDS / Medical Sciences)
- Engineering/Agriculture/Arts/Education/Architecture (Bachelor/Master/B.Com/M.Com)
- Accounting / Finance (CA Foundation / CMA)
One scholarship will be offered in each of the above-mentioned fields every year. The Scholarship would amount to a maximum of Rs. 50,000 per year per scholar. All fee related payments i.e. Admission, Registration, Tuition, as well as purchase of textbooks in the respective areas would be reimbursed. The scholar will be responsible for payment of any amount exceeding
Rs. 50,000 per year.
Applications would be received from 1st March 2008 to 30th April 2008 and scrutiny of the applications as per laid down criteria will be completed by 15th May 2008 and within a week onward, a Committee constituted by the Chief Executive of MCBEF shall select the candidates as per their merit.
Eligibility Criteria
Sons / daughters of Retired / Deceased Ex–MCB Employees, up to the level of AVP who:
- passed FA / F.Sc. / A Level / I. Com / B. Com or BA / BSc / BBA / BCS or its equivalent during 2005 - 2007, securing a minimum of 60% marks / 2 GPA; Through out the career without any break.
- have a valid admission in the given areas at a university, duly recognized by the Higher Education Commission (HEC).
- are not more than (20 years) of age for Bachelor's level admission and (22 years) for Master's level admission at the time of admission.
Requirement / Conditions
- Recipients would be required to take the normal course load of the programs registered for and to complete the degree in the given time frame.
- The payment at the time of admission and for the ensuing semester / year will reimbursed to the recipient subject to production of bills attested by the competent authority of the respective institute or at the discretion of recipient the said payment could also be made to the institution directly.
- The recipient will have to submit the semester marks sheet issued by the respective institution. Payment for the following semester securing a minimum of 60% marks would only be reimbursed after ascertaining that the recipient passed all subjects registered for the given semester / year, under the normal load of the program.
- Individuals who are dropped out except illness from their enlisted programs, failing in any subject; not securing the university required GPA / Marks; not meeting the necessary attendance requirements, or for any other reason what so ever except illness; would cease to receive further assistance.
Duration
The scholarships provided will be for the entire period of the respective degrees. For instance if an individual gets selected for the award and joins a two year MBA program in a recognized local University; the funding of Rs. 50,000 will be provided for each of the two years.
Likewise, if an individual joins in the BBA program he / she may receive the initial award for the duration of the said degree, which may be extendable in case of continuation into the MBA program provided he/she would fall within the criterion fixed for selection of candidates
as per merit.
Selection Procedure
- Applications would be invited on the Scholarship Application Form (attached with this circular) along with attested copies of the educational testimonials and the admission letter in the said program; to be submitted within the time specified at our Karachi office:
MCB Employees Foundation
10-C, Cosmopolitan Society,
Opp. VIP Gate, Mazar-e-Quaid,
Karachi.
- All applications will be screened by the Foundation against the given eligibility criteria. A list of successful applicants shall be circulated through a circular to all the offices/ branches of MCB as well.
- The five successful individuals (without discrimination of gender), one from each field mentioned above) will be selected as per merit.
- The Scholarship Committee would examine each application and select the candidates on the basis of criterion fixed in the scholarship scheme as per merit of the applicant.
Please bring the contents and features of this Scheme to the knowledge of all retired employees and their families.
With best wishes,
Yours sincerely,
Javed Iqbal
Tamgha-e-Shujaat
Chief Executive Officer
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