When is a scholarship not a scholarship?

When is a scholarship not a scholarship? When it’s a Saudi sourced loan to be repaid by the student when they enter the workforce. In this way the Saudi based Islamic Development Bank get to transfer funds around New Zealand, and the world, without being directly involved; their students do it all for them. The details are below in this letter from FIANZ.
fianz scholarship 2014 page 1

fianz scholarship 2014 page 2

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