The Islamic Development Bank Institute (IsDBI) is calling for applications for the IsDB Award for Impactful Achievement in Islamic Economics for the year 1444H (2023).
Focusing on the Development Solutions Achievement category, this round of the award aims to recognize, reward and encourage creative projects that successfully solve economic and financial challenges in IDB member countries.
The Islamic Development Bank (IDB) Award for Impactful Achievement in Islamic Economics is a renewed version of the 32-year-old IDB Award in Islamic Economics, Banking and Finance. The award has been expanded to recognize outstanding achievement in both knowledge creation and the implementation of innovative development solutions guided by the principles of Islamic economics.
The prize comes with a cash prize of US$100,000 for the first place winner, US$70,000 for second place and US$30,000 for third place.
- Nominated projects must 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 guided by the principles of Islamic economics; and
- Have been initiated within the last seven years.
- In addition, nominated projects should be:
- Innovative: it must be new, original and better than existing solutions
- Impactful: it must show evidence of a significant positive impact on people’s lives
- Replicable: it must be reproducible in other places and at other times
- Sustainable: it must be financially and operationally sustainable
- Scalable: it should show clear potential for scaling up with relative ease
For more information, visit https://isdbinstitute.org/awards/