ICMA is offering 35 scholarships in 2022 to individuals from selected countries in Sub-Saharan Africa and Asia Pacific who are unable to pursue a financial qualification due to their economic circumstances as part of ICMA's mission to raise standards and support inclusion in financial markets.

This has been increased from 25 scholarships, following the successful launch of the ICMA Scholarship Programme in 2021. We have also extended the availability of the programme to seven countries in Asia Pacific while adding Ethiopia to our Sub-Saharan Africa allocation.

The scholarships will be available to young people who are interested in a career in finance from the following countries:

Asia Pacific (15 scholarships allocated): India*, Indonesia*, Malaysia*, Mongolia*, Philippines*, Thailand* and Vietnam*.
Sub-Saharan Africa (20 scholarships allocated): Ethiopia*, Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, Uganda, Zambia and Zimbabwe.

*New for 2022.

ICMA has been active in the aforementioned countries through its efforts to develop the local repo markets alongside capacity-building in partnership with a number of development institutions such as Frontclear in Africa and the Asian Development Bank in Asia.

The scholarships provide an opportunity to study for one of the ICMA Diplomas, namely:
  • ICMA Diploma in Debt Capital Markets
  • ICMA Diploma Securities & Derivatives
  • ICMA Diploma in Financial Market Operations
Each diploma pathway includes taking the prescribed foundation and advanced level courses along with two specialist courses and/or ICMA workshops. This education programme is delivered in partnership with the ICMA Centre, Henley Business School, University of Reading.

These diplomas are internationally recognised qualifications taught by experienced market professionals which can kick-start a career in financial markets.

All the courses which make up the diplomas can be studied online over 12 months as a mix of self-study and virtual classroom programmes, and they include online exams. The ICMA scholarship will fully cover the course and examination fees for the relevant Diploma.
A good level of education (but not necessarily a University degree), interest in financial markets and proficiency in English are necessary application criteria. Candidates may be in full-time education, working in finance already or looking to move into it.

We would like to encourage ICMA members and academic institutions to share this information with students who may wish to apply.

Eligibility criteria:
  • Open to citizens of the following countries:
    • Sub-Saharan Africa: Ethiopia, Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, Uganda, Zambia and Zimbabwe.
    • Asia Pacific: India, Indonesia, Malaysia, Mongolia, Philippines, Thailand and Vietnam.
  • Candidates must be between 19 and 30 years old at time of application;
  • Good level of education (not necessarily a University degree).
To start the process potential students must submit all of the following:
  1. a 500-word statement explaining their background, career plans, and why they should qualify for a scholarship;
  2. a Curriculum Vitae including your nationality and country of residence, full contact details;
  3. academic records and evidence of educational attainment;
  4. two reference letters including contact details of the persons providing them.
ICMA will be unable to consider applications that do not provide all of the four requirements listed above.

Please take time to carefully read the eligibility criteria and required documentation before submitting your application. Kindly ensure that you send all requested documents in a single email, otherwise your submission will be rejected.

Due to the high volume of applications, we will not be able to reply to or consider any submissions which are incomplete.

Applications must be submitted to scholarships@icmagroup.org

The deadline for submissions for the 2022 intake is 15 January 2022.

About the selection process:
  • Candidates must meet the eligibility criteria;
  • A panel of ICMA staff will shortlist and make the final selection;
  • Selection is based on a number of factors, including academic merit, evidence of interest in financial markets, financial need, among others.
Scholarship outcomes:
  • Scholarship selection will take place in the last two weeks of January 2022 and shortlisted candidates may be called in for a further interview (to be conducted virtually);
  • Announcements of successful recipients will be made by mid-February 2022. If you have not heard from us by this date, then please assume that you have not been selected. We will be unable to contact unsuccessful applicants individually or provide feedback.
Successful recipients must complete the programme within 12 months of commencing their first course.

In addition, candidates must pass the exams for the foundation and advanced courses in order to move forward with the programme, failure to do so will invalidate the scholarship. ICMA will only cover exam fees once for each level.
Follow ICMA Education:

ICMA Zurich

T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich
ICMA London

T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris

T: +33 1 70 17 64 72
62 rue la Boétie
75008 Paris
ICMA Brussels

T: +32 2 801 13 88
Avenue des Arts 56
1000 Brussels
ICMA Hong Kong

T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
Copyright © 2021 International Capital Market Association.