Saudi Gazette report
JEDDAH – Abdullah Saleh Kamel, Chairman of the Board of Al-Baraka Islamic Economic Forum (AIEF), has announced the launch of the Saleh Abdullah Kamel Prize for Islamic Economics. He said the award aims to recognize and honor the outstanding contributions of innovators in Islamic economics.
Addressing 42n/a AIEF symposium, which started in Medina on Wednesday, Abdullah Kamel said the prize will be awarded in four categories for individuals and organizations. He called on institutions and individuals to take advantage of the prize as a real catalyst to develop their research and studies in the four strands of the prize.
The symposium on the theme “Envisioning the future of the digital economy”, is held under the aegis of Prince Saud Bin Khaled Al-Faisal, Deputy Emir of Medina. Several leading experts and specialists in the fields of economics, finance and investment are participating in the event.
In his opening speech, Abdullah Kamel said Saudi Arabia was making significant progress towards becoming the world’s leading center for Islamic finance. He traced the history of the AIEF back to its founder Sheikh Saleh Kamel 42 years ago. Abdullah Kamel hailed the ambitious strategy launched by Saudi Arabia to make the Kingdom a global center for Islamic finance.
“This corresponds to the growing importance of the Saudi market globally in various areas of Islamic finance,” he said.
Addressing the event, Dr. Fahad Aldossari, Deputy Governor of the Saudi Central Bank for Research and International Affairs, said that the global Islamic financial industry stands at $2.7 trillion, while that his assets in the Kingdom were approximately SR 3 trillion. He noted that this sector is still growing rapidly in the Kingdom, at an annual rate of 18%.