The IDB Prize
IDB PRIZE IN ISLAMIC ECONOMICS AND ISLAMIC BANKING
The Prize was established during 1408H (1988). The aim of the Prize is: "to
recognize, reward and encourage any activity of outstanding merits in promoting
outstanding works in Islamic Economics, Banking and Finance which are directed
towards the realization of the Islamic values. Such activity may take the form
of research, teaching, training, mobilization of intellectual opinion or any
other activity promoting the purpose of the IRTI/IDB".
THE PRIZE
The Prize is awarded annually alternating between Islamic Economics and
Islamic Banking and consists of the following:
- A Citation carrying the Bank's Emblem
- A Cash Award (in US dollars equivalent) of 30,000 Islamic Dinars
NOMINATIONS
Every year the IRTI announces the Prize and invites nominations fulfilling
the following points:
- Candidates may either be nominated by individuals or organizations.
- Self nominations and posthumous nominations are not acceptable.
- Nominations will remain valid for two 'prize years' in the concerned
field.
- IRTI/IDB current staff members are not eligible for such nomination.
- For the validity of nomination of ex-officials of IDB, at least one year's
discontinuity in service shall be required.
- The nomination letter should be written in Arabic, English or French and
provide a comprehensive rationale with supporting documentation for the
nomination.
Nominations shall be sent to:
The IDB Prize Preparatory Committee
Islamic Research and Training Institute,
Islamic Development Bank
P O Box 9201
Jeddah 21413
Kingdom of Saudi Arabia
Fax 966 2 6378927/6366871
KEY STEPS IN NOMINATION PROCESSING
- The Prize is announced formally every year when the President of the IDB
Group invites the members of the IDB Board of Governors, Alternate Governors
and members of the Board of Executive Directors to nominate persons or
institutions, whom they deem fit for the award of the Prize, for consideration
of the Prize in the new year.
- The Prize is announced by means of advertisements in various languages in
the members countries.
- The IDB Prize Preparatory Committee publishes a brochure announcing the
Prize in the new year. This brochure is mailed to educational institutions,
research institutions and other Islamic organizations in the member countries
on a large scale.
- In response to these efforts, the nominations are received and collated by
the IDB Prize Preparatory Committee and presented to the Screening Committee.
- The Screening Committee short lists the nominations to a manageable size
and sends all nominations and their supporting documents to three referees.
- When all the reports received from the referees on short-listed
candidates, the observations of the referees are processed by the IDB Prize
Preparatory Committee and presented to the second meeting of the Screening
Committee. The Screening Committee in its second meeting evaluates all
technical reports and makes a recommendation to the Selection Committee.
Sometimes it further reduces the short-list to 3 or 5 candidates from which
the Selection Committee may choose a Prize winner.
- Once nominations are received the IDB Prize Preparatory Committee compiles
a list of the nominees and their respective background material ensuring
compliance with the nomination procedures, and criteria of nominations as laid
down in the IDB Prize Rules.
- Complete record of each nomination is thoroughly evaluated by the
Screening Committee. The Screening Committee short lists the nominations to a
manageable number. The short-listed nominations and their supporting documents
are sent to three referees by the Screening Committee with specific
guidelines. The referees are asked by the Screening Committee to compare the
merit of the nominations based on the records submitted and mark each
nomination either not suitable, suitable or very suitable giving detailed
reasons for each. Based on the referee reports the Screening Committee further
short lists the nominations and makes specific recommendations to the
Selection Committee. Only the Selection Committee and the Screening Committee
have complete access to all records of the nominations. The Selection
Committee is the final decision authority of the Prize.
- The Prize is awarded by the President of the IDB Group in a special
ceremony which is held as a side activity of the Annual Meeting of the IDB
Board of Governors. In this ceremony, the IDB President makes a short speech
and presents the Award, Bank's Emblem and the Decoration to the Prize Laureate
who accepts the Prize. Later, the Prize Laureate is invited to IDB
Headquarters to deliver a lecture. This lecture is presented to the Academic
Committee and if found suitable, it is published under IRTI Lecture Series.
By this, the cycle of the prize is completed.
AWARDS SINCE INCEPTION
The first Prize was awarded in 1408H (1988). The IDB Prize has been in
operation for the last 19 years. During these 19 years, the Prize has been
awarded to 26 Laureates. Out of these 26 Awards, 13 have been awarded in Islamic
Economics and 13 have been awarded in Islamic Banking and Finance. The
nomination of the Prize is open both for individuals and institutions. However,
only 3 institutions have been successful in getting the Prize. These are Tabung
Haji of Malaysia, Centre for Research in Islamic Economics, King Abdul Aziz
University, Jeddah, and International Institute of Islamic Economics, IIU,
Islamabad, Pakistan. The rest 23 Prizes have been won by individuals for their
scholarly contributions.
LIST OF IDB PRIZE LAUREATES
| Name |
Nationality |
Year |
Area |
| Prof. Khurshid Ahmad |
Pakistani |
1408H (1988) |
Islamic Economics |
| Dr. Sami Hasan Ahmad Homoud |
Jordanian |
1409H (1989) |
Islamic Banking |
| Dr. Muhammad Umar Abdul Karim Chapra |
Saudi |
1409H (1989) |
Islamic Economics |
| Dr. Muhammad Anas Zarqa |
Syrian |
1410H (1990) |
Islamic Economics |
| Tabung Haji, Malaysia |
Malaysia |
1410H (1990) |
Islamic Banking |
| Dr. Ziauddin Ahmad |
Pakistan |
1411H (1991) |
Islamic Banking |
| Dr. Yousuf Abdul allah Al-Qradawi |
Egyptian |
1411H (1991) |
Islamic Economics |
| Dr. Sabahaddin Zaim |
Turkish |
1412H (1992) |
Islamic Banking |
| Centre for Research in Islamic Economics, KAAU, Jeddah |
Saudi Arabia |
1413H (1993) |
Islamic Economics |
| Dr. Ahmed Mohamed Ali |
Saudi |
1414H (1994) |
Islamic Banking |
| Dr. Muhammad Umar Zubair |
Saudi |
1415H (1995) |
Islamic Banking |
| Sheikh / Saleh Abdullah Kamel |
Saudi |
1416H (1996) |
Islamic Banking |
| Dr. Abdul Rahman Yousri |
Egyptian |
1417H (1997) |
Islamic Economics |
| Dr. Rafiq Younus Al-Misri |
Syrian |
1417H (1997) |
Islamic Economics |
| Dr. Tanzilur Rahman |
Pakistani |
1418H (1998) |
Islamic Banking |
| Mohammad al Habib ibn Al Khojah |
Tunisian |
1419H (1999) |
Islamic Economics |
| International Institute of Islamic Economics |
Pakistan |
1420H (2000) |
Islamic Banking |
| Dr. Monzer Kahf |
Syrian/American |
1421H (2001) |
Islamic Economics |
| Dr. Syed Muhammad Hasanuzzaman |
Pakistan |
1421H (2001) |
Islamic Economics |
| Alhaj / Saeed ben Ahmed Ben Nasser Ben Lootah |
U.A.E |
1422H (2002) |
Islamic Banking |
| Professor / John Presley |
Briton |
1422H (2002) |
Islamic Banking |
| Dr. Abbas Mirakhor |
Iranian |
1423H (2003) |
Islamic Economics |
| Dr. Mohsin Khan |
|
1423H (2003) |
Islamic Economics |
| Dr. Mohammad Ali Al-Qari |
Saudi |
1424H (2004) |
Islamic Banking & Finance |
| Dr. Shawqi Ahmed Dunya |
Egyptian |
1425H (2005) |
Islamic Economics |
| His Royal Highness Prince Mohamad Alfaisal Al Saud |
Saudi |
1426H (2006) |
Islamic Banking & Finance |
| Dr. Abdussalam Dawoud Al-Abbadi |
Jordanian |
1427H (2007) |
Islamic Economics |