The Islamic Development Bank Institute (IsDBI) is inviting nominations for the IsDB Prize for Impactful Achievement in Islamic Economics for the year 1444H (2023).
Focusing on the Development Solutions Achievement category, this cycle of the Prize aims to recognize, reward, and encourage creative projects that successfully solve economic and financial challenges in the IsDB Member Countries.
The Islamic Development Bank (IsDB) Prize for Impactful Achievement in Islamic Economics is a renewed version of the 32-year-old IsDB Prize in Islamic Economics, Banking & Finance. The Prize has been widened to reward outstanding achievements both in knowledge creation and in implementing innovative development solutions guided by the principles of Islamic Economics.
The prize comes with a US$ 100,000 award for the first-place winner, US$ 70,000 for second place, and US$ 30,000 for third place.
- The nominated projects shall meet the following criteria:
- Successfully solve economic and financial challenges;
- Have a positive and significant impact on people’s lives;
- Be consistent with moral values as guided by the principles of Islamic economics; and
- Have been initiated within past seven years.
- In addition, nominated projects are expected to be:
- Innovative: It shall be new, original, and better than existing solutions
- Impactful: It shall show evidence of significant positive impact on people’s life
- Replicable: It shall be replicable at other places and time
- Sustainable: It shall be financially and operationally sustainable
- Scalable: It shall show clear potential for scaling up with relative ease
For more information, visit https://isdbinstitute.org/awards/