BY DAYO ADESULU
The two winners of the Islamic Development Bank (IsDB) Prize for Impactful Achievement in Islamic Economics for 2021 attended the virtual presentation of the awards held during the 15th IsDB Global Forum on Islamic Finance on 28 August 2021.
LaunchGood, a crowdfunding platform that harnesses technology to bring the Islamic value of helping people into the contemporary and digital space, won the first prize. The second prize went to Seed Out, a micro-entrepreneurs crowdfunding platform with the vision of creating sustainable value to the community. The platforms won the prize for their innovative and impactful roles in funding projects that advance the principles of Islamic economics.
In his speech during the forum, IsDB President, H.E. Dr Muhammad Al Jasser, congratulated the winners, saying: “These two winning platforms have excellent and impactful roles in crowdfunding worthwhile projects that contribute to inclusive finance and productive economic activity using Islamic principles.”
The selection process for the prize was carried out by eminent experts and scholars from within and outside the IsDB Group through the coordination of the IsDB Institute.
Dr Sami Al-Suwailem, the Acting Director-General of IsDB Institute, performed the virtual presentation of the awards to the winners. He congratulated the winners and encouraged them to continue to innovate using the principles of Islamic economics for the benefit of society.
In his remarks, while accepting the prize, Mr Chris Abdur-Rahman Blauvelt, Founder / CEO of LaunchGood, said his platform would continue to innovate for the benefit of humanity. “This award enables us to realise our vision and create enduring value for the communities we serve,” he added.
Mr Zain Ashraf, President/Founder of Seed Out, said, “We are so grateful for being a recipient of this highly prestigious award of Impactful Achievement in Islamic Economics. We look forward to continuing providing self-enabling and inclusive entrepreneurial opportunities in an attempt to alleviate poverty”.
The IsDB Prize for Impactful Achievement in Islamic Economics is a reformulated version of the IsDB Prize in Islamic Economics, Banking and Finance that was first instituted in 1988.
The prize now has an expanded scope to reward outstanding achievements in two categories, offered in alternate years, namely (i) Development Achievement and (ii) Knowledge Contribution.
Nominations are now open for the 2022 cycle of the prize, which is for the Knowledge Contribution category and can be submitted here: https://irti.org/awards/ .
