According to the decision of Scientific Council of Azerbaijan State Oil and Industry University, the scholarship named after Movsum bay Khanlarov has been established for the students of French-Azerbaijani University.

In 1883, at the age of 26, Movsum bey Khanlarov successfully defended his PhD. thesis at the Scientific Council of the University of Strasbourg (Unistra) and earned a doctorate in Chemical Sciences. Thus, it is not accidental that UFAZ established a scholarship named after Movsum bay Khanlarov, the first Azerbaijani to receive a doctorate degree from the Unistra.

The scholarship is meant for second, third, and fourth-year UFAZ students, one in each speciality, with the total of 12 students. Chaired by Unistra Professor Pierre Collet, the jury selected the recipients of the scholarship award. The students in each specialty with highest results for the 2019/2020 academic year have been granted the scholarship.

The amount of the scholarship, named after Movsum bay Khanlarov, consists of 150 AZN. The scholarship covers an academic year and is funded by the state budget. Execution of this scholarship does not exclude the right of a scholarship holder to receive other scholarships and grants provided by the legislation of the Republic of Azerbaijan.