KUALA LUMPUR (Jan 8): The Royal Award for Islamic Finance is opened for nominations for the fifth recipient of the Royal Award, which honours an exceptional individual in the field of Islamic finance.
The Royal Award, inaugurated in 2010 as a biennial award, is an initiative spearheaded by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) to recognise Islamic finance leaders and visionaries who contribute significantly to the growth of Islamic finance globally and social progress of communities around the world.
In a joint statement today, BNM and the SC said an independent seven-member international jury, chaired by World Islamic Economic Forum Foundation chairman Tun Musa Hitam, will select an individual to be conferred the next Royal Award.
"The selection criteria for the Royal Award for Islamic Finance encompass both qualitative and quantitative aspects of an individual's exceptional contribution towards Islamic finance globally.
"These include financial innovation and pioneering work, exceptional leadership, adoption and acknowledgement within the industry, and inspiration and influence towards future progress and development of Islamic finance," they added.
The most recent recipient of the Royal Award for Islamic Finance in 2016 was Professor Datuk Dr Rifaat Ahmed Abdel Karim, who was instrumental in the establishment of two international standard setting bodies — the Accounting and Auditing Organisation for Islamic Financial Institutions and the Islamic Financial Services Board.