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
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.