Education financing for MSU
> The Ijarah-based financing option provides up to RM150,000 in private loans
MON TUESDAY ANAGEMENT and Science University (MSU) now offers the Affin Education Financing-i loan to those interested to pursue an education with them.
This was made possible through a new strategic partnership formed with Affin Islamic Bank Berhad. The Ijarah-based financing option provides up to RM150,000 in private loans and up to 15 years in financing term.
Present at the launch were MSU president Prof Tan Sri Dr Mohd Shukri Ab Yajid, Affin Islamic Bank chairman Mohd Suffian Haron, Affin Bank Berhad managing director and CEO Kamarul Ariffin Mohd Jamil and Affin Islamic Bank CEO Nazlee Khalifah.
Through its MSU Foundation, the university currently provides up to RM8 million in scholarships, funding, zakat and various other forms of financial aid. Those who benefit from it are not only MSUrians or the university and affiliate colleges, but high school students, matriculation and vocational colleges nationwide, as well as orphanages and charity homes.
MSU’s international aid reaches communities as far as Kazakhstan, Sri Lanka, India, Vietnam, Indonesia, Myanmar, Syria and Palestine. The university recently added the Republic of Maldives to its portfolio.
At the launch, the MSU Foundation received a zakat contribution of RM100,000 from the Affin Group, who also contributed RM50,000 to the university’s Sekolah Bina Insan and RM40,000 to MSU itself.
Students between the ages 18 and 45 are eligible to apply for the Affin Education Financing-i loan, across all undergraduate and postgraduate studies at MSU.