Khushhali Bank Limited (KBL) 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.

Dr. Muhammad Iqbal, Professor of Statistics, Faculty of Numerical & Physical Sciences, University of Peshawar, awarded the scholarships to the qualifying students at a ceremony hosted at the university. Syed Zahid Raza, Head Human Resources, Khushhali Bank Limited, congratulated the students and wished them success in their future endeavors.

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, Baluchistan and FATA to acquire higher education. These scholarships are merit based and awarded to the students who qualify for a degree program per the admission criteria of the respective university. The scholarships cover tuition and examination fees, in addition to course-related materials, books, and boarding expenses.

Highlighting the importance of education Mr. Syed Zahid Raza stated, “Education is the gateway to an enlightened society and through these scholarships we take a step towards facilitating access to education and the development of the country’s vast pool of human capital and painting ourselves a brighter future. It is with great pride that we reward these students for their efforts by investing in their tomorrow.”

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. These scholarships have been awarded to the students of the prestigious national universities, including Lahore University of Management Sciences, Institute of Business Administration, Karachi, Institute of Management Sciences, Hayatabad, City University, Peshawar, and Baluchistan University of Information Technology, Engineering and Management Sciences, Quetta. Since the start of the program in 2005, Khushhali Bank has awarded 268 scholarships.

Commending the program, Dr. Muhammad Iqbal, Professor of Statistics, Faculty of Numerical & Physical Sciences, University of Peshawar, said, “Access to quality education is a fundamental human right and, it is a matter of great honor to be a part of Khushhali Bank’s efforts to play a constructive role in protecting this right and creating opportunities where by hardworking students can realize their ambitions and true potential.”

About Khushhali Bank: Khushhali Bank Limited (KBL) is rated as Pakistan’s largest and fastest growing retail microfinance bank operating under the Central Bank regulations. Established in 2000, the Bank is funded by leading international financial institutions as a partnership between public, multinational and private sector commercial financial institutions. KBL’s mission is to market financial services tailored for the low income segment in line with international microfinance practices through an extended network operating across the country’s rural and urban divides.