Master’s Degree in Islamic Economics and Finance (MAEF) Exceptional Academic Performance Scholarship


The Masters in Islamic Economics and Finance (MAEF) program provides students with a comprehensive understanding of the principles and practices of Islamic finance industry. Upon completion of the program, students are prepared for successful careers in this rapidly growing industry that includes Islamic finance, banking, and Sharia-compliant investment management.

New applicants with exceptional previous academic performance encouraged to apply.

This scholarship will cover 100% of tuition fees.

Open to residents of the USA, Canada, UK, and Australia


Application Criteria:

  1. Must be a degree-seeking student.
  2. 4 years college graduate, bachelor’s degree, or equivalent program with a minimum 3.0 CGPA (75%).
  3. Applicants must provide transcripts of their academic studies.
  4. Applicants who obtained their undergraduate degree from a non-English institution must demonstrate proficiency in the English language.
  5. Applicants must submit a personal statement of purpose.
  6. Professional or voluntary work experience in a relevant field would be a credit.
  7. A letter of recommendation from a professional or academic leader.


Performance Criteria:

  1. The scholarship recipients must maintain a minimum CGPA of 3.0 on a 4.0 scale throughout their program.
  2. Must enroll in at least two courses per semester.  Note: Applicant may petition to enroll in a single course contingent upon student schedule and commitment ability.
  3. Must be willing to participate in extracurricular activities that support the College’s mission and values.
  4. Recipients must adhere to the College’s code of conduct and academic policies.

Additionally, all applicants for the scholarship must demonstrate a commitment to the study of Islam and Muslim communities in the West. This commitment can be demonstrated through community service, leadership activities, and previous coursework in Islamic studies.

We encourage all qualified applicants to apply for our scholarship program. If you have any questions or require additional information, please do not hesitate to contact us at Guidance College.


MAEF Scholarships Selection Rubric: 

14 years college graduate, bachelor’s degree, or equivalent.10%
2A minimum GPA of 3.05%
3GPA of 3.510%
4Demonstrated non-academic achievement in community service (Weekend Islamic school, Sunday Islamic school, Quran teacher, Helping Islamic community with workshops, seminars, and teaching experience in the K-12 system).10%
5Leadership experience: Professional or voluntary work in a relevant field.15%
6A letter of recommendation from a professional, academic, or local community leader.10%
7Personal Statement of Purpose.10%
8English language proficiency for non-native speakers:
· TOEFL score of 80 or above.
· IELTS score of 6.5 or above.
· Two years of study at an English-speaking institution

Scholarship Application Guidelines for Guidance College

  1. Apply for Admission: First, apply to Guidance College.
  2. Email Interest: Then, email to express your interest in the scholarship.
  3. Follow Instructions: A member of the Guidance College admissions department will respond to your email with a link to an online scholarship application form. Submit all materials via this form.
  4. Note: Scholarship applications sent via email will not be accepted.