Enrolment Deposit
Congratulations again on your acceptance into the Asia School of Business Master in Central Banking (MCB) program. All incoming students are required to pay an enrollment deposit of RM 10,000. Payment of the deposit is a condition for acceptance of our admissions offer, and once received, secures a student’s place in the MCB class.
The enrollment deposit serves as an advance on the mandatory program fees and is non-refundable, with the below exceptions:
- Fully sponsored students who have paid their own deposits and whose sponsors have paid all fees in full will have their deposit and net of payables refunded within 45 days of completion of the program. The deposit paid may be used to offset any incidental expenses that ASB has incurred for the students.
- Students who communicate their decision to withdraw their acceptance (in writing) by August 1st will receive 50% of their deposit refunded.
Students with corporate sponsorships or scholarships are responsible for arranging the payment of the enrollment deposit with their sponsors. Any questions regarding the enrollment deposit as a sponsored student should be directed to our MCB Admissions Team here.
Electronic deposit payments may be made from your application portal status page. Please click here.
Fees
Program Fees
Program fees for the upcoming academic year are set by ASB Management Sdn. Bhd.
The program fee is RM 335,000 (approx. USD 76,000 as of February 2023)
Full regular fees for the 12-month MCB program starting in the 2023-2024 academic year include:
• Tuition Fees
• MIT Immersion
• Accommodation in Kuala Lumpur and during the MIT Immersion Program in the USA
• Program-related travel expenses
• Visas
• Insurance
• School supplies
The program fees do not include transportation costs for arrival at Kuala Lumpur to begin the program and return to the home country at the end of the program as well as food and personal expenses.
*Subject to change on an annual basis, but incoming students are guaranteed a fixed rate for the duration of their 12-month stay.
Additional Expenses
Student housing costs are included in the program fees. As per Ministry of Higher Education Malaysia regulations, all students are required to live on-campus during their time at Asia School of Business. Students will have some choice in accommodation, with some options available for an extra fee and subject to availability.
All full-time residential students are required to pay a RM1,000 housing security deposit 2 weeks before check-in the residential housing provided by ASB in order to secure on-campus accommodation. The housing security deposit is refundable upon completion of the program, net of any outstanding charges due to ASB. Electronic housing security deposit payments may be made from your application portal status page. Please click here.
Student dining costs vary considerably depending on individual eating and lifestyle preferences. Cooking facilities are available at ASB’s residential campus. The average estimated total cost of food and personal expenses (not included in the mandatory program fees shown above) is RM 45,000 (approx. USD $11,000) for the 12-month program duration.
Payment of program fees entitles both local (for US visa only) and international students to an insurance plan. This plan enables students to receive health care services during their stay at ASB, including during travel outside of Malaysia for the MIT Immersion Program.
Payment Deadlines
The total bill amount for the program fees to be paid by the students in 3 tranches as follows:
| Start Date of Semester | Fees Liability | Fees Due Date | |
|---|---|---|---|
| 1 (Fall) | 28 August 2023 | 25% | 15 August 2023 |
| 2 (Spring) | 8 January 2024 | 25% | 15 December 2023* |
| 3 (Summer) | 8 January 2024 | 25% | 15 April 2024 |
| 4 (Fall) | 2 September 2024 | 25% | 31 August 2024 |
Other charges not included in the program fees such as upgraded housing, additional charges for utilities, security bonds due to emergency, damage or loss of property (including accommodation) and penalty fees are billed monthly by the 1st of the month. Payment is always due on the 1st of the following month and updated statements are posted the following month.
As a courtesy to our students, we send email reminders each time a billing statement is generated to students’ official ASB email addresses or the sponsoring company.
When students accept admissions offers and register for classes at Asia School of Business (ASB), they or the sponsoring central banks accept full responsibility to pay all program fees and other associated costs assessed as a result of registration and/or receipt of services. ASB may assess late charges, suspend registration and access to various student services, withhold a degree and charge collection costs if all charges are not paid.
Please contact Student Financial Services here to resolve any unanticipated financial problems.
A student who fails to make arrangements to pay program fees by the last payment due date will have the following sanctions applied:
- Withdrawal of student IT rights
- Disablement of student ID card and any controlled access privileges
- Not be permitted to re-register for next semester
- Not be issued a final award certificate
- Not be permitted to attend the Graduation Ceremony
- Not be issued any academic reference
ASB reserves the right to refer unpaid accounts to legal debt recovery and/or external agencies to pursue payment. Students will also be responsible for any collection fees, including legal fees incurred during such collection efforts.
As a courtesy, we will send notifications during the term to students with past due bills who have not made satisfactory arrangements.
A late fee penalty will apply if you pay your fees later than the last day of the fees due date. The late fees penalty charge is 2% each month for outstanding fees.
If you are graduating, your last statement will be posted in the month prior to graduation on SIS and you must pay that amount in full – plus any charges that accrue later that month – or you will be put on degree hold. That means you will not receive your degree or be allowed to participate in the Graduation Ceremony. Once your account is paid in full, you may be added to the degree list for a later term as a non-registered degree candidate.
Payment Method
Student Information System (SIS)
Once the student enrollment process is completed, ASB will set up a student account in the Student Information System (SIS) in each student’s name for any charges and credits.
Students may opt to pay online through SIS by logging in with a student ID and password. Student log-in information (username and password) and training on SIS will be provided to all students during orientation week.
Billing will be performed through the Student Information System (SIS) portal. Students will be given training during orientation in August on how to access SIS.
Payment Methods
- Please ensure that the card being used to pay is 3-D verification compliant.
- Make sure you have sufficient funds in your bank account.
- Make sure that your credit card’s limit will cover your payment.
- Contact your bank (for debit cards) or your card issuer (for credit cards) in advance to let them know that you will be making a payment to ASB. Some card issuers automatically block transactions that don’t fit your usual spend pattern or are over a certain amount of money.
- If the online payment system declines your transaction, call your bank or card issuer. They should be able to tell you why it was declined and may be able to authorise your card so that you can try again.
Students who are being sponsored, wholly or in part, should provide evidence of sponsorship. Students will not be able to complete enrollment until ASB has received confirmation of sponsorship from the student’s sponsor and this has been approved by ASB and/or the program fees are paid by the student.
Proof of sponsorship in the form of a Financial Affidavit or Agreement undertaking to pay the program fees to ASB must be provided to the Finance Department.
Any questions regarding enrollment as a sponsored student should be directed to our Corporate Development Department.
For your convenience, you may find answers to our FAQ below. We also have staff dedicated to answering your questions during our office hours, so please contact us any time you have a question
I am paying from
| Payment Details | |
| Credit card | Log in to SIS to make payments |
| Electronic Fund Transfer |
Malayan Banking Berhad Ground Floor, Menara DBKL 2, Jalan Raja Laut, 50350 Kuala Lumpur ASB Management Sdn Bhd-Fees 514150-439951 MBBEMYKL |
| Cheque | Payable to “ASB Management Sdn Bhd” Note: Please include student’s full name, student number, and program on the reverse of the cheque to ensure that payments are properly credited. |
| Payment Details | |
| Flywire | Log in to SIS to make payments |
| Electronic Fund Transfer | Malayan Banking Berhad Ground Floor, Menara DBKL 2, Jalan Raja Laut, 50350 Kuala Lumpur ASB Management Sdn Bhd-Fees 514150-439951 MBBEMYKL |
FAQ
How can I make a payment if I do not have a Malaysian bank account?
You may pay online via SIS by check, wire transfer, credit/debit card or cash. Please see the Payment Method section for more information.
I have a negative balance on my bill. What does this mean?
A negative balance indicates that your bill was overpaid and that you may be eligible for a refund. You may only receive your refund after the semester starts and your anticipated credits are disbursed to your student account.
What happens if a payment is returned by my bank?
If a payment is returned by your bank, we will require a new payment immediately and charge your student account with a RM300 fee. Your bank may also charge you for the returned check.
Who do I contact about one of the charges on my bill?
All questions regarding any charges billed to the student can be directed to Student Financial Services.
How do I dispute a charge?
If you want to formally dispute a charge, you must contact Student Financial Services in writing 60 days within the date of the statement on which the charge first appeared.
Where can I retrieve my billing statement?
Your billing statement can be retrieved in the Student Information System (SIS) portal. The username and password to log in will be provided to you during orientation.
I forgot my SIS account username and/or password. How do I retrieve them?
Please contact our IT Department directly with questions regarding a lost username and/or password.
What happens to my bill if I leave ASB?
If you leave school before graduation for any reason (medical withdrawal, leave of absence, required withdrawal, etc.) even if you plan on returning to ASB, you are still responsible for paying the full amount due on your statement or making satisfactory payment plans with Student Financial Services. If you leave ASB for a period of time and return, you will not be allowed to re-enroll or re-register until you have paid any balance due on your account. After you graduate or leave ASB for any reason and have an unpaid past due balance on your account for more than 30 days, your account may be sent to an outside agency and you will be responsible for any collection fees (including reasonable attorney’s fees we incur during collection efforts).
If I leave ASB but intend to return, will my fees change?
Students who leave ASB with an intent to return will be reassessed when they return and may be charged different fees than those enforced in their initial enrollment. Students who return on a date outside the academic year in which they withdrew will be charged according to the fee structure enforced at the time of re-joining the program. Fee liability for students will be determined in accordance with the official date of suspension/withdrawal and the liability point laid out in our Policy.
If I leave ASB, do I still have to repay my student loans?
If you have student loans, you should check the repayment conditions as lenders may require you to make payments when you are not in school after the grace period expires, even if you have not graduated.
Am I eligible for a refund if I leave ASB before graduating?
The following refunds are applicable for student withdrawal, cancellation, or deferral:
- Withdrawal before July 1st of intake year: 50% of the deposit paid upon course acceptance will be refunded
- Cancellation within 7 days after start date of the semester: ASB reserves the right to charge for supplies provided and a reasonable pro-rated fee
- Cancellation after 7 days from start date of the semester: no refund will be given
Feeling overwhelmed or have more questions?
Please contact us and let us know what you need. We are here to help!