The Ministry of Education, Training and Employment and Royal Bank of Canada (RBC) have collaborated on an enhanced scholarship award opportunity for young Caymanians. Sealing the deal, both entities signed a memorandum of understanding at a recent press conference.
Valued at CI$30,000 per annum, the scholarship award will be funded 50/50 annually for up to four years. It will assist young Caymanians who wish to pursue studies in business administration, finance, or a finance-related field.
While the award is open for study in any jurisdiction, preference will be given to applicants accepted by a Canadian institution to complete a four-year undergraduate programme.
As part of the scholarship package, recipients will have access to a range of training and employment opportunities at RBC. A mentoring programme will include career and course-choice advice, as well as money-management guidance.
Awardees will also participate in a structured summer employment programme of up to twelve weeks annually, for the first three years of study.
Thanking RBC for approaching his ministry with the initiative, Education Minister, the Hon. Rolston Anglin, JP, expressed his hope that other private sector organisations will follow suit.
“Government provides in excess of $9 million annually towards scholarships. For a community our size, that is certainly a significant investment in the development of our human resources,” he stated.
“We therefore need to be strategic about the way in which we award scholarships, and must also ensure that recipients not only have opportunities to gain tertiary qualifications, but also to return and contribute to our society.”
He also noted that because the scholarship is ‘enhanced’ applicants must meet higher standards if they hope to attain it.
“Education Council scholarships normally crest at $20,000, but this one will offer recipients an extra $10,000 in value. It will therefore be merit-based and offered to applicants with the most outstanding academic track record.”
The scholarship is named in honour of Harry Chisholm, JP, who joined RBC in 1965, retiring as Vice-President and Country Head for the Cayman Islands in 2007.
During his time with RBC he was deeply involved in developing Cayman’s banking industry, and his contributions were recognized by Her Majesty, Queen Elizabeth II in 2005 when he was made a Member of the Order of the British Empire (MBE).
For application details, email Cecil Chan-a-sue or Karita Whittaker at cecil [dot] chan-a-sue [at] rbc [dot] com and karita [dot] whittaker [at] rbc [dot] com. Information may also be obtained from Danielle Japal at the Education Ministry’s Scholarship Secretariat, by emailing Danielle [dot] Japal [at] gov [dot] ky.
Web blurb: Partners in a new scholarship offer, the Ministry of Education and RBC recently signed an MOU and unveiled the details.
