MAYBANK FOUNDATION AWARDS RM2.5 MILLION SCHOLARSHIPS TO 65 STUDENTS
Total scholarship payout for 2014 exceeds RM12 million including 112 existing scholars
Maybank Foundation today presented its annual Maybank Scholarship Awards valued at RM2.5 million, to 65 deserving students as part of its ongoing corporate responsibility commitment towards education. The awards scheme is part of the Group’s efforts in supporting the country’s human capital development as well as enabling deserving students pursue their dreams.
This year, Maybank has introduced a special “sponsorship” category which is dedicated to outstanding students from families with household income of below RM24,000 a year. A total of 15 awards were presented to students from this category who may pursue studies in financial-related disciplines or any field that are priorities under the nation’s Economic Transformation Programme, such as medicine, architecture, education to name a few. These awards carry no obligatory bond.
Another 50 scholarships were awarded to recipients to pursue tertiary studies locally or abroad in courses related business management or financial services. These 50 scholarship recipients will be bonded with Maybank for three years if they pursue their studies locally and five years, if overseas.
The awards were presented by Nora Manaf, Group Chief Human Capital Officer of Maybank at a special ceremony held in Menara Maybank. Also present were recipients and their parents/guardians.
Speaking at the event, Nora Manaf said the scholarship programme is part of Maybank’s corporate responsibility towards education as the bank believed that deserving achievers should not be constrained by the lack of financial means to prosper.
"It is also one of our platforms to recruit future talents to continue with our Group’s aspiration. Since the Programme began in 1972, we have given over 1,000 scholars vast opportunities to grow in their career and contribute to the growth of Maybank Group," said Nora Manaf. "The attractive feature of the scholarship is the opportunity to build a rewarding career with Maybank which has been recognised among the top 20 banks in the world by Bloomberg Market magazine and the fourth largest bank in Southeast Asia by assets."
Nora Manaf added that the Maybank scholars are from a diverse group of communities pursuing a range of academic studies in local and overseas universities. "This reflects Maybank’s philosophy of embracing diversity and inclusiveness. It is aligned with Maybank’s global presence and supports our aspiration to be a regional financial services leader, operating from the heart of Asia where talents with international exposure and different disciplines enrich and complement the people in our Group."
She also said that Maybank received close to 10,000 applications this year compared to 6,000 last year. “Our selection criteria are rigorous and applicants must obtain a minimum of 6As in the 2013 SPM. Subsequently, they will have to go through an intense selection process which include online assessments and face-to-face interviews,”
“They are then assessed on their leadership competencies based on a business case study to ensure that we select well-rounded candidates who will benefit from the opportunity Maybank provides.”
The Maybank Scholarship Award encompasses financial support including registration and tuition fees, living allowances, accommodation, medical check-up reimbursements, a laptop and paid practical training for the scholars. All recipients will be nurtured by the Bank to develop them professionally and personally for a rewarding career with the Maybank Group via career preparatory stints such as internship programs, business assignments, personal and leadership development skills, among others.
Nora added that apart from these 65 scholars for 2014, Maybank also has another 112 existing scholars who are currently in their second, third or fourth year of studies. The value of their scholarships for this year is some RM9.6 million, making a total payout of over RM12 million for 2014.
Apart from the scholarships in Malaysia, Maybank Foundation also currently offers scholarships to students in Indonesia. There are currently 33 scholars from there pursuing tertiary education in Indonesia as well as in selected Universities in Malaysia and Singapore.
Maybank’s support for educational programmes goes beyond the Scholarship Awards as the Bank has numerous other initiatives to help promote excellence in education. These include adoption of 15 schools under the school adoption programme; providing ‘Back-to-school’ financial assistance to eligible staff to defray education costs for their school-going children or those entering first-year Diploma or Degree courses locally; academic-excellence award for account holders and children of employees as well as training and development programmes for its 47,000 employees.
Said Nora Manaf, "In 2013, we spent RM118.87 million for our Group staff learning budget. This amount is well above the statutory requirement such as Bank Negara Malaysia and the American Standard of Testing and Development (ASTD) global benchmark. The allocation ensures Maybankers are given the right development interventions and knowledge to excel and compete effectively in different environments where Maybank operates.”