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Islamic Foundation UK bags IDB Prize in Islamic Economics for 2011

Sunday May 22, 2011 10:25:08 AM, Staff Reporter

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Malegaon: The prestigious Islamic Development Bank (IDB) award in Islamic Economics for the year 2011 goes to the Islamic Foundation UK for its substantial contribution to the promotion of Islamic economics. The decision is taken by a high level selection panel that met in Jeddah May 15.


"The IDB Prize Selection Committee unanimously decides to award the IDB Prize in Islamic Economics for the year 2011 to The Islamic Foundation, U.K.", said a statement issued by the selection panel on May18.


The IDB Award Selection panel, which is chaired by Dr. Hatem Karanshawy, the Dean of the Faculty of Islamic Studies at Qatar Foundation and composed of eminent scholars and experts from outside and inside the Bank, met at the IDB headquarters in Jeddah May 15 to decide on the award. 

The Islamic Foundation UK has been selected for the award considering its efforts in rendering important services to Islamic economics, its contributions to the establishment of Islamic Economics as an independent field of inquiry through innovative research, teaching, training and publications, the significant impact of its publications in Islamic economics and frequent citation of such publications and in view of its sustained interest, intellectual support and continued commitment to the promotion of Islamic economics.


The award will be conferred on the winner during the 36th IDB BOG Annual Meeting to be held on 29-30 June 2011 in Jeddah, Saudi Arabia.

The IDB has established this award since 1988 with the aim to recognize, reward and encourage the activity of outstanding merit in promoting outstanding work in Islamic Economics, Banking and Finance.


Along the past 23 years, 32 (researchers, bankers, economists and institutions) have been awarded the IDB Prize annually alternating between Islamic Economics and Islamic Banking & Finance.




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