The Institute of Chartered Accountants in England and Wales (ICAEW) has joined forces with government agencies and scholarship funds to to address the underrepresentation of Bumiputeras in accounting and finance professions by providing educational opportunities and fostering greater diversity in these fields.
ICAEW’s mission to advocate for public interest and sustainable economies has led to a strategic focus on advancing issues covered by the United Nations’ Sustainable Development Goals (SDGs), including the promotion of education, decent work, and reduced inequalities.
Over the past five years, ICAEW, in collaboration with Majlis Amanah Rakyat (MARA) and the Yayasan Peneraju Scholarship Fund, has been actively working towards advancing UN SDG Goal 4 (quality education), Goal 8 (decent work and economic growth), and Goal 10 (reduced inequalities). These efforts aim to ensure equal opportunities for personal and professional development, particularly among the Bumiputera segment of the Malaysian population.
According to recent statistics released by the Department of Statistics Malaysia, Bumiputeras comprise the majority of certain professions, such as healthcare, but are underrepresented in others, including accounting and law.
To address this disparity, ICAEW has launched fully funded scholarship programs in partnership with MARA and the Yayasan Peneraju Scholarship Fund. These programs aim to increase Bumiputera participation in accounting and finance professions by providing educational opportunities and support for aspiring professionals.
Currently, approximately 200 students are enrolled in the ICAEW scholarship program with MARA, with plans to increase the number of scholars to 70 this year. Additionally, the Yayasan Peneraju scholarship quota is increasing by 30 spots due to high enrollment success rates.
Yayasan Peneraju, Thrust Lead Programme Implementation (Professional) Herlina Ahmad emphasised the importance of collaboration with organizations like ICAEW in developing a highly skilled workforce aligned with Malaysia’s economic goals.
A Yayasan Peneraju scholar, Ahmad Ilham Rushdi Mohd. Amin expressed gratitude for the support received, highlighting the role of comprehensive programs in preparing scholars for success in the corporate world.
ICAEW is also extending full scholarships to deserving Bumiputera SPM graduates through MARA’s Young Talent Development Programme (YTP), providing a pathway to the prestigious ICAEW ACA qualification.
Head of ICAEW Malaysia, Shenola Gonzales (pic) emphasised the importance of promoting diversity in the accounting and finance professions, noting the positive impact it can have on businesses and economic resilience.
Through these collaborative efforts, ICAEW and its partners are paving the way for increased Bumiputera participation in accounting and finance professions, contributing to a more inclusive and prosperous future for Malaysia.
