Karachi, June 27, 2023: Bank Alfalah, one of the biggest commercial banks in Pakistan, has partnered with Habib University to establish a scholarship fund for students aspiring to pursue higher education. The fund will comprehensively cover all educational expenses throughout the four-year degree programme to offer financial assistance to deserving students and guarantee their access to education.

Bank Alfalah has pledged an annual commitment of PKR 6.4 million (amounting to PKR 25.6 million) over four years to support select applicants pursuing social sciences and engineering studies. As part of the program, four high-merit and deserving students will get equal educational opportunities, promoting inclusivity by focusing on women and differently-abled applicants. The recipients of the scholarships will be honoured as ‘Alfalah Scholars’.

Wasif Rizvi, President of Habib University, said, ‘The collaboration between Bank Alfalah and Habib University underscores a shared dedication to academic excellence and a recognition of higher education’s profound impact on individuals and society. By providing scholarships, this partnership not only opens doors of opportunity for talented students but also strengthens the ranking of higher education in Pakistan.’

Atif Bajwa, President and CEO of Bank Alfalah, commented, ‘We are pleased to launch a scholarship fund in partnership with Habib University catering professional education in the social sciences and engineering field. Higher education is paramount as it serves as a catalyst for personal growth, empowers individuals with relevant skills, and fuels the country’s progress. By investing in quality education, we not only shape the future of our talented youth but also contribute to the socioeconomic development of our country.’

The Bank is dedicated to creating a lasting impact and establishing a sustainable educational option for students. The scholarship fund established by the Bank is aligned with the Sustainable Development Goals (SDGs) by promoting inclusive and quality education (SDG 4) and fostering partnerships for the goals (SDG 17). The scholarship program will provide hands on experience for scholarship students and Habib University students to enhance their four year educational journey through initiatives by Bank Alfalah. The Bank also plans to conduct workshops at Habib University, inviting faculty and academia to discuss digital banking, financial inclusion, and green banking topics.