Budget debate: New scholarship for Malay students to pursue careers in finance

SINGAPORE – A new scholarship has been set up involving Singapore’s sovereign wealth fund GIC and self-aid group Mendaki to spur a lot more Malay students listed here to pursue a occupation in finance.

The scholarship will include tuition fees and residing allowances, as very well as programmes such as overseas exchanges and finance-related seminars, said Senior Minister of Condition for Defence and Manpower Zaqy Mohamad on Thursday (March 10).

Earning the announcement throughout the debate on the Ministry of Culture, Local community and Youth’s funds, Mr Zaqy stated that the scholarship will be open to suitable college students from the Countrywide University of Singapore, Singapore Management University and Nanyang Technological College.

All disciplines, excluding drugs and dentistry, are eligible for the scholarship.

The tie-up in between GIC and Mendaki is the hottest initiative by the self-support group to mature its marketplace partnerships to situation pupils to growth sectors.

People on the GIC-Mendaki scholarship will also acquire access to internships, work rotations, networking options and mentorship from GIC. The recipients will join the business with a bond of a few several years on graduation.

“The assist and partnerships from industry associates this sort of as GIC replicate Mendaki’s aspiration to make the competencies of our workforce by investing in our youth and their schooling,” said Mr Zaqy, who is the self-help group’s deputy chairman.

“I hope this initiative will persuade additional partners to be a part of our endeavour in supporting youth and younger skills to pursue a profession in advancement industries and spur them to reach excellence. With each other, we are able to empower and navigate our talents, no matter of their history, in direction of good results.”

As aspect of endeavours to guidance pupils in the neighborhood, Mr Zaqy also announced on Thursday that Mendaki’s Institute of Specialized Training (ITE) mentoring programme will be increased to acquire into account the one of a kind requirements of mentees, and to inspire them to do perfectly in college.

The ITE Empowerment Programme, which was piloted in 2019, noticed extra than 1,000 college students take element in it last year.

Mr Zaqy added that one particular in just about every five Malay-Muslim Nitec pupils ended up enrolled in the programme previous 12 months, with ninety-6 for each cent of participants remaining in college and progressing to their second yr.

Underneath a refreshed identify, #amPowered@ITE, the programme will also be progressively built obtainable less than the Mendaki Tuition Plan and at M3 towns.

M3@Town is an initiative less than the M3 programme – a tie-up concerning Mendaki, the Islamic Spiritual Council of Singapore and the People’s Association Malay Activity Government Committees Council – to serve the community.

Care advisers will also be deployed to the YouthSpaces in the 3 ITEs to complement the mentoring programme. YouthSpace is a collaboration amongst Mendaki and ITE to hold routines for learners on campus.

“Their purpose is to manual college students on feasible schooling pathways, and connect them to skilling or emplacement chances,” mentioned Mr Zaqy.