LABUAN, Exness Investment Bank Limited has inked a Letter of Intent (LoI) with the Faculty of Computing and Informatics of Universiti Malaysia Sabah (UMS) to introduce a FinTech scholarship programme for underprivileged students.

Under the LoI signed here last night, the bank has committed an initial investment of up to US$40,000 to bolster the Science, Technology, Engineering and Mathematics (STEM) fields.

The programme covers the tuition fees and living expenses of second- and third-year students from Labuan, Sabah and Sarawak, Exness Investment Bank said in a statement to Bernama today.

The scholarships are available for students pursuing courses in Data Science, Software Engineering, Network Engineering, Technology Multimedia and Business Computing.

“This aligns with our mission to strengthen education in STEM fields, providing talented young students the opportunity to continue their studies without financial burdens and positively impact the communities we operate in," Exness Investment Bank chief executive officer David Moyes said.

“A developed nation relies on collaboration from various sectors, and UMS hopes the good relationship between UMS and Exness Investment Bank Limited will endure,” said UMS vice-chancellor Prof Datuk Dr Kasim H. Mansor.

According to the statement, the FinTech scholarship programme has shown a significant impact in supporting students in various countries, including Vietnam, Thailand, South Africa, Kenya and Cyprus.

Source: BERNAMA News Agency