The bank received more than 100 candidacy applications
“Abu Dhabi Islamic Bank” extends the acceptance of applications for “creativity awards” to the 31st of this month
Abu Dhabi Islamic: Awards honor those who offer innovative financial solutions.
archival
Abu Dhabi Islamic Bank announced that it has received more than 100 applications to participate in the sixth edition of the “Awards to Honor Creativity and Innovation in Inspiring Ethical Values in the Financial and Banking Sector,” which honors individuals and institutions who provide innovative solutions or initiatives in the field of Islamic financial services.
The bank stated in a statement yesterday that, in response to the great demand for participation, the committee responsible for the awards extended the deadline for submission by an additional two weeks until August 31, pointing out that the awards include two categories: “the award for banking services initiatives built on ethical foundations,” and “award for banking services initiatives built on ethical foundations.” Innovation Award in Islamic Finance.
And the “Ethical Banking Initiatives Award” for individuals and institutions who provide innovative solutions or initiatives in the field of Islamic financial services, which have been successfully implemented and achieved a positive social impact for the concerned parties.
The winner and finalists for the award will receive cash prizes totaling $120,000.
As for the "Innovation Award in Islamic Finance", it aims to honor innovative solutions supported by technology, in line with Islamic Sharia principles. The bank will also study a proposal to cooperate with the winner to enable him to implement his innovative project and implement it in practice.
Dr. Osaid Al Kilani, the global head of the internal Shari’a supervision sector for the Abu Dhabi Islamic Bank Group, said: “We have received more than 100 requests so far, and the number is likely to increase, of course, and therefore we have been keen to extend the deadline for an additional two weeks until August 31, and this indicates the momentum of the solutions being presented. Within the Islamic community to innovate next generation solutions, as well as the need to fund and support these initiatives.”
The process of selecting the final winners will be supervised by an advisory board that includes the most important financial experts, specialists in the field of ethical and Islamic banking, and scholars specializing in Islamic law.
This will be done based on criteria that include the ethical aspect of the initiatives, their positive impact on society, their innovative concept, and their applicability in the Islamic financial sector.
The finalists will present their innovative initiatives and solutions to the public, in a ceremony to be held on November 2, 2021 on the sidelines of the World Islamic Economy Summit at the Dubai Exhibition Centre.
Follow our latest local and sports news and the latest political and economic developments via Google news