Winners Receive 2021 Prize for Impactful Achievement in Islamic Economics

IsDB President, H.E. Dr. Muhammad Al Jasser

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-entrepreneur crowdfunding platform with the vision of creating sustainable value for 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 realize 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.

The IsDB Institute (IsDBI), previously known as IRTI, is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute is mandated to lead the development of innovative knowledge-based solutions to support the sustainable economic advancement of 57 Member Countries and various Muslim communities worldwide. In alignment with the IsDB Group’s 10-Year Strategy and the President’s 5-Year Program, IsDBI works as a catalyst for knowledge-based sustainable development.

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