2025 IsDB Prize Nominations Open: Honoring Excellence in Islamic Economics

The Islamic Development Bank Institute (IsDBI) is excited to announce the opening of nominations for the prestigious IsDB Prize for Impactful Achievement in Islamic Economics for the year 1446H (2025). This esteemed award is dedicated to recognizing and rewarding outstanding projects that have made significant strides in addressing development challenges across IsDB Member Countries through the lens of Islamic economic principles.

Recognizing Exceptional Development Solutions of IsDB Prize

The IsDB Prize for 2025 will feature the Development Solutions Achievement category, which aims to spotlight innovative projects that tackle critical issues in development while aligning with Islamic values. This prize is not just about acknowledging success; it’s about celebrating initiatives that have made a real difference in people’s lives and have the potential to inspire similar solutions elsewhere.

The focus of this year’s prize is on projects that demonstrate remarkable impact and are based on Islamic economic principles. These principles emphasize ethical practices, social justice, and sustainable development, making the prize a hallmark of excellence in applying these values to practical solutions.

Who Can Nominate?

Nominations are open to both individuals and institutions that have been involved in projects with significant and measurable impacts. Whether you are a researcher, a development organization, or a social entrepreneur, if you have worked on a project that fits the criteria, you are encouraged to submit your nomination.

To qualify for the IsDB Prize, the projects must have been initiated within the past seven years and should show clear evidence of their impact on economic development and community welfare. Additionally, the projects should be designed in a way that allows them to be replicated in other regions, amplifying their positive effects beyond their original context.

Prize Details and Awards

The IsDB Prize is a testament to the value placed on impactful achievements in Islamic economics. The prize structure is as follows:

• First Place: US$100,000
  The top prize is awarded to the most exceptional project, recognizing its outstanding contribution to solving development challenges and its alignment with Islamic principles.
• Second Place: US$70,000
  The second-place winner will receive substantial financial recognition for their innovative project and its impact.
• Third Place: US$30,000
  The third-place prize honors significant achievements and contributions, encouraging continued excellence in the field.

These awards not only provide financial support but also bring valuable visibility and recognition to the winning projects, offering opportunities for further development and replication.

The Nomination Process

The nomination process for the IsDB Prize is designed to be clear and accessible. It involves a two-step procedure:

1. Registration:
   The first step is to register as a nominator by visiting the ‘How to Apply’ page on the IsDB Prize Portal. This registration phase is open until 30 October 2024. Ensure that you complete this registration on time to proceed to the next step.
2. Submission:
   After registration, nominators must upload the completed nomination form along with any relevant supporting documents by 3 November 2024. This submission should include detailed information about the project, its impact, and its alignment with Islamic economic principles.

Both steps are crucial for ensuring that your nomination is considered. Detailed guidelines and forms are available on the IsDB Prize Portal to assist in the application process.

Awards Ceremony and Recognition

The winners of the IsDB Prize will be honored during a special ceremony at the 2025 IsDB Group Annual Meetings. This event will celebrate the remarkable achievements of the winners and provide a platform for networking and showcasing successful development solutions. The exact date and venue of the ceremony will be announced in due course, so keep an eye out for updates.

Why the IsDB Prize Matters

The IsDB Prize is more than just an award; it is a commitment to advancing the field of Islamic economics by recognizing projects that embody its principles. By highlighting and supporting impactful solutions, the prize encourages further innovation and progress in addressing development challenges.

Winning this prize not only validates the success of a project but also positions it as a model for others to emulate. It provides a valuable opportunity for projects to gain international recognition, attract additional support, and contribute to the broader goal of sustainable and ethical development.

Get Involved

If you have a project that meets the criteria for the IsDB Prize and has made a significant impact, we encourage you to apply. The nomination process is straightforward, and the rewards are substantial. For more information, including detailed guidelines and application instructions, visit the About IsDB Prize section on the official website.

For any questions or assistance, don’t hesitate to reach out to the IsDB Prize team at isdbprize@isdb.org. This is your chance to contribute to a global effort to advance Islamic economics and development through impactful solutions.

Participate in the IsDB Prize for 2025, and be part of a transformative journey that celebrates and amplifies the success of projects making a real difference in the world.