JEDDAH, 22 August — A UAE national and a Briton are the laureates of the latest IDB prize in Islamic banking.
The Islamic Research and Training Institute of the Islamic Development Bank announced that Alhaj Saeed ibn Ahmed Lootah from the UAE and Prof. John Presley from the United Kingdom were declared joint winners of the 1422H Islamic Development Prize in Islamic Banking in recognition of their vast contribution to the field.
The prize money is 30.000 Islamic dinars (over $40,000) together with a certificate of merit and a medal carrying the IDB motto. The laureates will receive the prize during the 27th annual meeting of the 54-nation IDB Board of Governors which will take place in Ouagadougou, capital of Burkina Faso on Oct. 22 and 23.
In a statement issued here, IDB President Dr. Ahmad Mohammed Ali congratulated the laureates on their accomplishment. He commended them for their valuable contribution to Islamic banking.
IDB instituted the prize in 15 years ago in a bid to honor, reward and encourage all outstanding and innovative efforts in Islamic banking and economics. Seventeen scholars, economists and bankers across the world have won the prize which is awarded every other year.
The selection committee, headed by Prof. Kurkut Ozal from Turkey, is composed of eminent scholars and experts from outside the bank.
