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Saudi Arabia’s Financial Sector Development Program (FSDP) launched a ‘Global Award for Islamic Finance,’ the official Saudi Press Agency reported on Sunday.

The award aims to motivate financial institutions to advance the Islamic finance industry, SPA said, adding that the award was in line with the Kingdom’s Vision 2030 objectives for economic growth.

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Finance Minister and Chair of the FSDP Committee Mohammed al-Jadaan said that the launch of the award coincided with the Financial Sector Conference (FSC) Talks 2, the second edition of the conference, which will be held in March 2023.

The award categories for institutions and individuals include: The Islamic Waqf, sustainable Islamic investment, Islamic Banking, Islamic finance technology, and research contributions and scientific papers.

The conference aims to promote the Islamic finance industry and enhance its values, contribute to achieving the United Nations’ Sustainable Development Goals (SDGs), and promote innovation and scientific research. It also seeks to raise awareness on the industry and highlight its accomplishments.

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