Ahmad Muhammad Ali, president of the Islamic Development Bank Group, in a statement congratulated the laureate on its notable accomplishment. He commended its officers in-charge for the valuable contribution to Islamic economics and wished them greater success in all their endeavors. He also congratulated the British diplomatic mission in Saudi Arabia for the achievement of this British Islamic institution in the service of Islamic economics.
The IDB Prize Selection Committee, chaired by Professor Hatem Karanshawy, 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 on May 15 and decided unanimously to award the IDB Prize in Islamic Economics for the year 1432H to the Islamic Foundation, UK by issuing the following statement: The IDB Prize Selection Committee unanimously decides to award the IDB Prize in Islamic Economics for the year 1432H to The Islamic Foundation, UK.
1. Considering its pioneering efforts in rendering important services to Islamic economics;
2. Recognizing and appreciating its contributions to the establishment of Islamic Economics as an independent field of inquiry through innovative research, teaching, training and publications;
3. Realizing the significant impact of its publications in Islamic economics and frequent citation of such publications;
4. And in view of its sustained interest, intellectual support and continued commitment to the promotion of Islamic economics.
The IDB has established this Prize since the year 1408H (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 and finance.
