Request for Applications: IISF Research Grants Program (Bangladesh)

The Institute of Islamic Social Finance Research Grant Program provides funding for policy-relevant and Shariah-compliant research projects that explore innovative Islamic financial solutions for inclusive and equitable development. Selected researchers and institutions can receive grants ranging from BDT 25,000 to BDT 50,000 for research projects lasting 3 to 5 months.

Program Overview

The Institute of Islamic Social Finance offers research grants to support studies that address knowledge gaps and develop practical solutions in the field of Islamic Social Finance (ISF).

The program encourages research that contributes to better understanding, implementation, and policy development related to Islamic financial instruments such as Zakat, Waqf, Qard-e-Hasanah, and other Shariah-compliant approaches that support social and economic development.

The research should generate evidence-based insights that can help policymakers, financial institutions, researchers, and communities develop more inclusive financial systems.

Grant at a Glance

Program: Islamic Social Finance Research Grant Program
Funding Organization: Institute of Islamic Social Finance
Research Focus: Islamic Social Finance and equitable development
Grant Amount: BDT 25,000–BDT 50,000
Research Duration: 3–5 months
Eligible Applicants: Individual researchers, academicians, and research institutions
Research Type: Fundamental, empirical, and policy research

Program Objectives

The grant program aims to:

Support research on Islamic Social Finance.
Address knowledge gaps in Shariah-compliant financial systems.
Promote innovative Islamic financial solutions.
Generate policy-relevant research findings.
Support inclusive economic development.
Strengthen connections between research, policy, and practice.
Encourage evidence-based approaches to social finance.

Research Focus Areas

Applicants may submit proposals focusing on one or more of the following areas:

Zakat Administration and Impact Assessment

Research may explore:

Effectiveness of Zakat management systems.
Social and economic impact of Zakat programs.
Improving Zakat distribution mechanisms.
Measuring poverty reduction outcomes.

Waqf-Based Social Development Models

Research may focus on:

Waqf-based development approaches.
Sustainable community development models.
The role of Waqf in education, healthcare, and poverty reduction.
Innovative Waqf management systems.

Qard-e-Hasanah for Financial Inclusion

Possible research topics include:

Interest-free financial support models.
Expanding access to finance for underserved communities.
Qard-e-Hasanah as a tool for poverty alleviation.
Community-based financial solutions.

Islamic Social Finance and Sustainable Development Goals (SDGs)

Research may examine:

The contribution of ISF to achieving SDG targets.
Islamic finance approaches for sustainable development.
Social impact measurement.
Poverty reduction and inequality reduction strategies.

Digital Innovations in Islamic Social Finance

Studies may explore:

Digital platforms for Zakat and Waqf.
Technology-based Islamic finance solutions.
Digital inclusion through ISF.
Fintech applications in Islamic social finance.

Integration of Islamic Social Finance with Public and Social Welfare Programs

Research may focus on:

Collaboration between governments and ISF institutions.
Social protection systems.
Public welfare partnerships.
Policy frameworks for Islamic social finance.

Why This Grant Matters

Islamic Social Finance provides alternative approaches for addressing social and economic challenges through ethical and inclusive financial systems.

This research grant helps:

Develop practical Islamic finance solutions.
Improve financial inclusion.
Support poverty reduction strategies.
Strengthen social welfare systems.
Inform policymakers and institutions.
Promote innovative approaches to equitable development.

Who Is Eligible?

Eligible applicants include:

Individual researchers.
Academicians.
Research institutions.

Applicants should have an interest in conducting research related to Islamic Social Finance and should demonstrate the ability to complete the proposed study.

Research Requirements

Applicants must submit proposals that include:

Clear research objectives.
Relevant methodology.
Expected outcomes.
Policy relevance.
Shariah compliance considerations.
Ethical research practices.

Funding Information

Selected projects will receive:

Minimum Grant: BDT 25,000
Maximum Grant: BDT 50,000

The final grant amount depends on:

Research scope.
Nature of the study.
Volume of proposed work.
Project requirements.

Research Duration

The expected research period is:

3 to 5 months

Extensions may be considered only with written approval from the relevant authority.

How to Apply

Applicants should follow these steps:

Identify a research topic related to Islamic Social Finance.
Prepare a policy-relevant and Shariah-compliant research proposal.
Develop a clear research methodology and study plan.
Prepare a detailed budget.
Include researcher information and supporting documents.
Submit the proposal according to the application requirements.

Required Proposal Information

Each application should include:

Name and address of the researcher.
Name and address of co-researchers, if applicable.
Background of the study.
Research objectives.
Research methodology.
Expected results and outcomes.
Policy relevance and implications.
Detailed budget.
Study plan or work schedule.
Statement on ethical and Shariah compliance.
Curriculum vitae (CV) of researcher(s).

Common Mistakes to Avoid

Applicants should avoid:

Submitting research topics unrelated to Islamic Social Finance.
Failing to explain policy relevance.
Providing unclear research objectives.
Using weak or unsuitable methodologies.
Ignoring ethical and Shariah compliance requirements.
Submitting incomplete researcher information.
Providing unrealistic budgets or timelines.

Tips for a Strong Application

To improve the proposal:

Select a research topic with practical policy importance.
Clearly define the research problem.
Explain how findings can support Islamic financial innovation.
Use appropriate research methods.
Demonstrate understanding of Shariah principles.
Highlight potential social and economic impacts.
Prepare a realistic work plan and budget.

Expected Research Outcomes

Successful research projects should contribute to:

Improved understanding of Islamic Social Finance.
Evidence-based policy recommendations.
Innovative financial inclusion models.
Better Zakat and Waqf management approaches.
Stronger connections between Islamic finance and development goals.
Practical solutions for social and economic challenges.

Frequently Asked Questions (FAQs)

Who can apply for the Islamic Social Finance Research Grant?

Individual researchers, academicians, and research institutions interested in Islamic Social Finance research can apply.

How much funding is available?

Selected projects receive grants ranging from BDT 25,000 to BDT 50,000.

What is the duration of the research project?

Research projects are expected to be completed within 3 to 5 months. Extensions require written approval.

What research areas are supported?

Supported areas include Zakat, Waqf, Qard-e-Hasanah, Islamic Social Finance and SDGs, digital innovations, and integration with welfare programs.

Is Shariah compliance required?

Yes. Applicants must include a statement explaining ethical and Shariah compliance within their research proposal.

Can institutions apply for funding?

Yes. Research institutions are eligible to submit proposals.

What makes a strong research proposal?

A strong proposal clearly defines the research problem, uses appropriate methodology, demonstrates policy relevance, includes ethical and Shariah considerations, and explains potential social impact.

Conclusion

The Institute of Islamic Social Finance Research Grant Program provides valuable support for researchers exploring innovative and ethical financial solutions for social development. By funding policy-relevant and Shariah-compliant studies, the program helps advance Islamic Social Finance practices, strengthen financial inclusion, and contribute to sustainable and equitable development outcomes.