Focusing on the Knowledge Contribution category, this cycle of the Prize aims to recognize, reward, and encourage significant knowledge contributions in areas related to Islamic economics that have the potential to solve major economic and financial challenges of IsDB Member Countries.

Individuals and institutions can nominate other individuals and institutions, based on a project that has a positive and significant impact on people’s lives and has a substantial impact on economic development based on Islamic principles.

The prize comes with a US$ 50,000 award for the first-place winner, US$ 30,000 for second place, and US$ 20,000 for third place.

The nominated contributions should have been made within the previous seven years and be replicable elsewhere.

The nomination is a two-step process that can be initiated by visiting the ‘How to Apply’ (https://prize.IsDBInstitute.org/how-to-apply/) page on the IsDB Prize Portal (https://Prize.IsDBInstitute.org/). The first step is the registration of the nominator/applicant, which is open until 16 Jamada Al-Ula 1445 (30 November 2023). The second step is for the nominator/applicant to upload the nomination form details and any relevant files before 19 Jamada Al-Ula 1445H (3 December 2023).

For more information about the call for nominations, visit the IsDB Prize Portal (https://Prize.IsDBInstitute.org/) and download the brochure to learn more about the procedure.

The prize winner and runners-up will be honored at a ceremony during the 2024 IsDB Group Annual Meetings on a date to be announced in due course.