Abu Dhabi Islamic Bank (ADIB) has signed an agreement with the American University of Sharjah (AUS) to establish the ADIB Scholarship Fund with an endowment of Dh5 million ($1.36 million).

Students from all AUS faculties, with distinguished academic performance, can benefit from the Fund.

“We believe that education is the best investment one can make, and we are committed to raising levels of knowledge and qualifications of the community,” said Tirad Mahmoud, CEO of ADIB.

“We aim to encourage more students to pursue a university education and with this endowment, we have demonstrated our willingness to go beyond financing tuition fees.”

Dr Peter Heath, AUS chancellor, said: 'This generous contribution will actively contribute to the AUS mission of graduating the best and the brightest trained workers, to build a viable human resource pool for the UAE and beyond. We are especially grateful to ADIB for this generous contribution and look forward to continue our mutual collaboration.”

Dr Nada Mourtada-Sabbah, AUS vice chancellor, added: “The UAE is increasingly upgrading the caliber of its manpower and emphasizes the role of leading institutions of higher education in directing its future development. This generosity of ADIB will contribute considerably to provide opportunities for the best students to pursue their higher education at the AUS.”

Scholarships granted by the ADIB Scholarship Fund will be available by January 2013 to students from different majors, given that they have excellent academic results and do not have financial capacity to complete their higher education. – TradeArabia News Service