|In November 2009, ICCI (the Islamic Chamber of Commerce and Industry - an affiliated institution of the Organization of the Islamic Conference) and EUCLID (Euclid University - an intergovernmental organization) approved a Partnership Agreement which formalizes a Joint Initiative pertaining to three academic programs: (1) the MBA in Islamic Finance (2) the MBA in Islamic International Business (3) the Certified Islamic Finance Consultant. Very importantly, this agreement also provides for scholarship possibilities for qualified individuals who are both citizens of and resident in OIC Member / States.
Current scholarship availability (as of 2012):
All scholarships have been awarded.
New estimated window for scholarship allocations: November 2012.
In January 2010, the ICCI circulated the initial announcement of this Joint Initiative to its member Chambers of Commerce, which bring about the question of the application procedure.
Applicants interested in obtained a scholarship offered in the context of the ICCI/EUCLID Joint Initiative regarding the MBAs in Islamic Finance / Islamic International Business / MBA or Master in Sustainable Development / Certified Islamic Finance Consultant / Master of Diplomacy and International Affairs must follow the following procedure:
- Send an expression of interest to the attention of Riazuddin at email@example.com (cc: and firstname.lastname@example.org) with the following documents:
- Detailed professional resume
- Scan of current diploma / degrees / transcripts
- Indication of level fluency in English
- Indication of access to Internet (dial up or high speed connection)
- Please note that you must have Bachelor’s degree or its international equivalent to apply for an MBA.
- You should have access to a computer with an email account, reasonably fast Internet access and a good printer.
- You should be reasonably fluent in English to read advanced college textbooks and pass intensive oral examinations on the phone.
Based on a joint evaluation by ICCI and EUCLID, you will receive a positive or negative answer to your scholarship application. Please note that this decision is based on a number of factors (geography, priority groups, academic requirements) and that there is no appeal to this decision. Please allow up to 3 weeks for a reply.
We sincerely appreciate your interest in this Joint Initiative and thank you in advance for your efforts to follow this procedure and provide all requested documents in your initial communication.
Note: if the application is sent and sponsored by an ICCI member chamber or other OIC affiliated institution, please make sure that this is clearly indicated. Institutions should only send one application (with all requested documents) per email message.
Technical Details of the Joint Initiative:
11/27/2009: ICCI and EUCLID/IOSD sign extended framework agreement for joint initiative in capacity building for the ICCI regioneducation
The Secretary General's office announced today that an extended and renewed framework agreement has been signed with ICCI (Islamic Chamber of Commerce and Industry) which places EUCLID's Master's degrees in Islamic Finance and International Business in the context of a joint initiative with scholarship support. ICCI is an affiliated institution of the Organization of the Islamic Conference which has 55 member states on 4 continents.
Above: EUCLID's SG Syed Zahid Ali and ICCI's ASG Attiya Nawazish Ali at the signing ceremony held at ICCI's headquarters, 25 November 2009.
Official ICCI Web site | Official OIC Web site
Agreement between ICCI and EUCLID (Euclid University)/IOSD
Program Background and Further Information:
In December 2006, IOSD and the Euclid University Consortium (now called Euclid Consortium) signed an Agreement with the Islamic Chamber of Commerce and Industry, a 57-member States organization and affiliated organ of the Organization of the Islamic Conference. The MOU was featured in the OIC official journal - issue #3. This MOU is extended to apply to EUCLID programs as well.
The Agreement confirms the accreditation of the programs offered and provides for scholarships for ICCI resident students, which means that the applicants must be citizens and residents of the following countries:
Central African Republic *
Syrian Arab Republic
United Arab Emirates
* Approved Observer member. ICCI scholarships do not extend to the Russian Federation.
Please contact the admissions office for more information on the ICCI/OIC scholarship program.