Innovation Award in Islamic Economics

Honoring innovative ideas and solutions in practical applications of Islamic economics

Innovation Award in Islamic Economics

Award Objectives

  • Supporting Islamic financial institutions with innovative new products
  • Encouraging researchers and specialists to innovate in the fields of Islamic economics
  • Helping the Islamic economy fulfill its mission through innovative products
  • Harnessing modern technologies in the financial industry through innovative products
  • Developing Sharia-compliant solutions for developments in the digital economy and contemporary financial challenges
  • Activating the role of Islamic financial institutions in nurturing development projects and creative products
  • Bridging Sharia knowledge with economic applications and modern financial technologies
  • Highlighting Qatar's role in fostering creativity and innovation in Islamic economics globally

Eligible Participants

  • Researchers and academics at universities and research centers.
  • Experts and specialists in Islamic financial applications and innovation.
  • Postgraduate students in Islamic jurisprudence, economics, and finance.
  • Institutions and centers specializing in Islamic economics.

Award Fields

No. Field Description
1 Islamic Finance Studies on Islamic banking and finance, crowdfunding, sukuk, financing platforms, investment instruments, risk management, and modern financial technologies (FinTech).
2 Zakat, Waqf, and Charitable Work Studies on zakat, endowment funds, endowment investment and management, endowment development, and modern financial techniques in endowment, zakat, and charitable activities.
3 Takaful Insurance Modern Sharia-compliant and economic models of cooperative insurance.
4 Maqasid al-Sharia and Development Analysis of the impact of Islamic economics on achieving justice and stability, the role of Maqasid in the economic system, and sustainable development within Islamic economics.
5 Regulation and Practice Study of regulatory laws and policies governing Islamic finance, endowments, zakat, charitable work, and Sharia compliance.
6 Islamic Behavioral Economics Integrating consumer behavior concepts with Sharia principles, the moral economy, and social responsibility.
7 Islamic Digital Economy Digital currencies, artificial intelligence in Islamic financial institutions, and blockchain applications.

Participation Requirements

  • The innovative product must be a new Islamic financial product.
  • This innovation must not have been previously presented in any publication, work, or submitted to any institution.
  • A one-page summary of the product must be provided, covering the main elements of the product and its potential benefits.
  • The product must fall within the award's specified fields.
  • Upon submission, the applicant must upload the required data and product-related documents to the award platform.
  • The product documentation must be written in either Arabic or English.
  • Products that violate the award's terms and conditions will be disqualified.
  • The winning product becomes the property of the award; the applicant may not claim or dispose of it after the award announcement.
  • Award winners will be announced at the ceremony, the date and venue of which will be determined by the award administration.
  • Winners will receive a plaque and certificate at the honoring ceremony, in addition to the specified cash prize.

Evaluation Criteria

Criterion Weight
Sharia Compliance 30%
Added Value and Innovation 15%
Feasibility 15%
Applicability and Implementation 10%
Regulatory and Legal Compliance 10%
Social Impact 10%
Market Acceptance 10%

Prize

Rank Cash Prize Award/Certificate
First Place 100,000 Qatari Riyals Plaque and certificate
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