CIMB continues to build ASEAN talent with RM7.5 million in scholarships to 14 youth across the region

21 October 2022

The CIMB ASEAN Scholarship Programme emphasises CIMB’s commitment in supporting high potential youth to pursue their tertiary education of choice

Kuala Lumpur: CIMB Group Holdings Berhad (“CIMB” or “the Group”) reinforces its commitment to growing and enabling talent with the latest grant of RM7.5 million in scholarships to youth across ASEAN under the 2022 CIMB ASEAN Scholarship Programme (“the Programme”). Since its inception in 2016, the Group-wide initiative by CIMB has been providing high-potential youth from ASEAN countries the opportunity to pursue tertiary education at top tier institutions of their choice. In Malaysia, the scholarships are being granted through CIMB Foundation, whilst in other ASEAN markets they will be granted by the Group’s respective local banking entities.

A scholarship presentation ceremony was held recently with the presence of Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group; Gurdip Singh Sidhu, Group Chief People Officer of CIMB Group and Rafe Haneef, Chief Executive Officer of CIMB Foundation.

The 2022 Programme garnered positive response from candidates hailing from a set of diverse backgrounds within the key ASEAN countries CIMB operates in, including Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and the Philippines. In addition to a full scholarship covering tuition fees, scholarship recipients will also receive a living allowance, insurance and other related fees to support their field of study at any established university worldwide. They will also be partnered with a mentor from within CIMB who will provide career mentorship throughout their study period before entering full-time employment upon graduation.

The CIMB ASEAN scholars will also be offered internships during study breaks and employment upon graduation, including the opportunity to enter CIMB’s structured management trainee programmes such as The Complete Banker™ (“TCB”) Programme, TCB Digital and the newly introduced sustainability-focused TCB programme. These programmes will boost the scholars’ all-round skills, providing a holistic and solid foundation in professional development to be future-ready as members of the CIMB family, as well as the workforce as a whole.

Some of the top-ranked renowned universities the 2022 CIMB ASEAN scholars are headed to include King’s College London, London School of Economics and Political Science, University of Warwick, University of Edinburgh and University of Bristol .The students will be pursuing degrees in various disciplines such as Financial Mathematics and Statistics; Emerging Economies and International Development; Data Science; Economics, Politics and International Studies; Accounting and Finance, as well as Information Technology. Candidates were required to undergo a thorough five-stage selection process comprising an online assessment, pre-screening, in-country interview, regional virtual assessment, and a final regional face-to-face virtual interview.

Gurdip said, “The CIMB ASEAN Scholarship reinforces the Group’s commitment to nurture the brightest minds in ASEAN by providing them with the right start to chart their future ahead. As a purpose-driven financial institution, we continue to play an important role in building ASEAN leaders of tomorrow through academic support and opportunities to realise their academic ambitions. In addition, the Programme also aims to nurture a pool of capable talent to produce CIMB’s human capital pipeline to support the Group’s future business growth, and it is our hope that that they will become contributing drivers to advance the ASEAN economy. The candidates come from across various socio-economic backgrounds with a significant majority coming from the B40 and M40 segments. As such, the scholarship is a life changing moment for most of them and CIMB is proud to have enabled that. On behalf of CIMB, we congratulate our 2022 CIMB ASEAN scholars, and we look forward to supporting them every step of the way to ensure their continued success."

Rafe said, “Echoing one of CIMB Foundation’s key focus areas which is promoting education, we are cognisant of the need to ensure the youth today are given the right foundation and skill sets to unlock their true potential. Through the Programme, we meet one of our objectives which is improving equitable access to quality education for high potential youth, as well as providing them with a pathway to a successful future, and ultimately making positive long-term impacts not just to their lives, but also to their families. We hope that the Programme will empower the scholars to be future leaders of society and in turn inspire them to create a meaningful and lasting impact to the communities around them."

Expressing the excitement of some scholars of the Programme:

· Haskiret Singh Bhangu (18, Malaysia, BSc Financial Mathematics & Statistics, London School of Economics & Political Science)

“I am extremely grateful to receive the financial support through the Programme as I am able to place more focus on my academic objectives and field of study. The scholarship also gives me the opportunity to return and work with CIMB after completing my studies, which I believe is extremely beneficial in becoming well versed with the banking and finance industry."

· Siti Anastasia binti Norbasha (20, BA Philosophy, Politics, and Economics, King's College London)

“One of the most meaningful ways the Programme has changed my life is that it releases a huge financial burden on my family and it allows me to pursue my tertiary education with a more stress-free state of mind. The scholarship also serves as a motivating factor for me to work even harder and I am extremely blessed with this amazing opportunity given by CIMB."

· Kayla Zevanya (19, Indonesia, Bachelor of Computer Science in Data Science, Monash University)

“This scholarship has positively impacted me and my family, and I am extremely grateful to be one of the scholars of the Programme. Thanks to CIMB, I am able to repay my parents for their hard work and dedication in raising me and I am blessed to be given this opportunity to give back to my family."

· Punnita Bumrungpanichtaworn, (21, Thailand, Bachelor of Science in Accounting & Finance, University of Bath)

“The Programme has certainly changed my life. With the scholarship, I am able to pursue my dream of studying abroad and my passion in accounting and finance. The scholarship also provides me with the financial support I need, and I am very thankful to CIMB and honoured to be receiving this opportunity."

The Programme is open to ASEAN candidates from undergraduate and postgraduate programmes and those who have a minimum of one academic year left in their course of study. The scholarship was previously limited to recipients who are pursuing their bachelor’s degree, as well as those with at least two academic years remaining. In 2021, the eligibility criteria were expanded in recognition of the effects of global pandemic which affected the financial circumstances of many students and led to delays or changes in plans to pursue higher education. In the case of candidates from Malaysia, 73% are from the M40 and B40 category.

For more information about the CIMB ASEAN Scholarship, please visit: https://www.cimb.com/en/careers/students/cimb-asean-scholarship.html

Gurdip Singh Sidhu, Group Chief People Officer of CIMB Group (top row, second from left); Dato’ Abdul Rahman Ahmad, Group CEO of CIMB Group (top row, centre) and Rafe Haneef, CEO of CIMB Foundation (top row, second from right) with the 14 youth who have been selected as scholars under the 2022 CIMB ASEAN Scholarship programme during the virtual award ceremony