Action Burkinabè de Fundraising

Applications are now open for the Impact Challenge Award, which aims to bring greater recognition to innovative solutions based on Islamic finance principles or that are Islamic finance enablers, which can improve the economic and social resilience of financially impacted communities around the world.

The first Impact Challenge Award is organised in collaboration with the World Bank Group's Centre for Inclusive Growth and Sustainable Finance in Malaysia as technical partner and supported by the Malaysia Digital Economy Corporation.

The theme of the 2022 cycle is Advancing the programme from development sustainable: strengthening the economic and social resilience of communities affected by finance through Islamic finance.

Price details

The winner(s) are :

• Cash prizes of USD 70,000 or USD 35,000 each for two (2) winners;
• Earn the distinction as a global Islamic finance solution, with a prominent listing on the Royal Award website. The winner(s) may also be featured in any other publication or publicity material by the organiser and supporting partner; and
• Opportunity to present the solution at the 2022 Global Islamic Finance Forum awards ceremony.

Eligibility criteria

• The Impact Challenge Prize 2022 is open to participants international which may be an individual, a team of individuals or a registered company.
• The solutions submitted must meet the following criteria:
  • If technology-based: at least one viable product. This means that there must be at least one available prototype of the product ready to be deployed to present and not just an idea on paper;
  • Applies Sharia principles or is a catalyst for Islamic finance; and
  • Able to demonstrate a positive and tangible impact in strengthening the economic and social resilience of financially affected communities.

Criteria

Candidates will be evaluated according to four (4) main criteria:

• Ingenuity;
• Make an impact;
• Commercial feasibility/viability; and
• Scalability.

For more information, please visit The Royal Award for Islamic Finance .