How Malaysian students can study for free with a Bank Negara scholarship

Full scholarships let talented and academically competitive students get a shot at their dreams. Bank Negara Malaysia knows this, and their Undergraduate Scholarship provides Malaysian students with an invaluable opportunity.

The central bank annually scouts young Malaysian talent through its scholarship programme. It funds their study of  economics, accounting, finance, actuarial science, mathematics, statistics, data science, law, and computer science in a list of approved universities by the bank. 

You might be in luck if you’re a Malaysian student with such aspirations. Here’s everything you need to know about Bank Negara Malaysia’s annual scholarship programme: 

Upon graduating, Bank Negara Malaysia scholarship recipient will be bonded to the bank, following the ratio of one year of study to two years of service. Source: AFP

Full scholarship by Bank Negara Malaysia: Details you should know 

When to apply 

According to Uni Enrol, applications for the 2022-23 intake opened from June 16 to June 22. To get the latest updates on when to submit your application, be sure to check their website.

It also clearly states that applications will not be accepted after the specified closing date. Applicants who meet the minimum requirements are strongly encouraged to apply the following year. 

How to apply 

You can submit your application via an online portal on the bank’s website when the application window opens. 

Eligibility requirements 

If you are a Malaysian citizen who has received offers to pursue or are currently pursuing your undergraduate studies, you’ll be eligible to apply for the Undergraduate Scholarship. This scholarship is also available to current pre-university scholarship recipients.

To apply for this scholarship, you must satisfy the following requirements:

• Excellent examination results in any of the following:
  • STPM/A-Level: Minimum of three As
  • Diploma/Matriculation: Minimum Cumulative Grade Point Average (CGPA) of 3.50
  • Australian Matriculation: Minimum ATAR of 85%
  • American Foundation Program: Minimum SAT score of 1,200
• Candidates who are currently pursuing their undergraduate studies must have a minimum current CGPA of 3.50
• You must have achieved a minimum of five credits in your SPM, including Bahasa Melayu, English, and Mathematics 
• You should demonstrate strong leadership qualities, proven teamwork capabilities, and outstanding performance in extra-curricular activities
• You should have exceptional interpersonal skills
• You must not exceed 25 years of age on July 1, 2022
• You have obtained an offer to pursue your undergraduate study or are currently studying at one of the approved universities 

During your application, you’re not required to provide any supporting documents. If you are shortlisted for an interview, please bring along your relevant documents, certificates, and transcripts in the original format. 

Shortlisted applicants will be invited to an assessment centre where they will be assessed on their suitability, tenacity, interpersonal and communication skills, commitment, demonstration of teamwork, and aptitude.

Bank Negara Malaysia’s Undergraduate Scholarship could help you fund your study of law, mathematics, statistics, or economics at Harvard University. Source: Maddie Meyer/Getty Images North America/Getty Images/AFP

Scholarship coverage 

This scholarship will cover expenses inclusive of tuition fees, return flight tickets (only for overseas students), subsistence and related scholarship allowances. 

Successful applicants will only study disciplines related to Economics, Accounting, Finance, Actuarial Science, Mathematics, Statistics, Data Science, Law, and Computer Science.

Once you have completed the programme, you will be required to work for the central bank. Your bond will follow a ratio of one year of study to years of service. For example, if you studied under the scholarship programme for three years, you will be bonded to the bank for six years of service.

Universities covered by the scholarship 

Currently, the Undergraduate Scholarship covers universities in the UK, US, Australia, and Malaysia. You can click here to view the list of approved universities for the 2022-23 intake, but we highly recommend checking the site for any updates or changes to the list.