IDB Declares Prof. Dr. Seif el-Din Ibrahim Tag el-Din winner of IDB Islamic Economics Prize for 1436H (2015)

Jeddah, 20.05.2015 : The Islamic Development Bank has declared Prof. Dr. Seif el-Din Ibrahim Tag el-Din from Sudan as the winner of the IDB Prize in Islamic Economics for the year 1436H (2015) in recognition of the important role he played in advancing the cause of Islamic economics. The Prize will be awarded during the 40th IDB Board of Governors Annual Meeting, to be held in Maputo, Mozambique during 20 to 24 Sha’baan 1436H (7 – 11June 2015).

In a statement on the occasion, Chairman of the IDB Group Dr. Ahmad Mohamed Ali, congratulated the laureate and commend him for the valuable contribution to the development of Islamic economics and wished him greater success.

The IDB Prize Selection Committee comprising eminent scholars and experts which met recently at the IDB HQ, 4th Rajab 1436H (23 April 2015), unanimously decided to award the Prize to Prof. Dr. Tag el-Din in recognition of his original academic works in Islamic Economics, his book on “Maqasid Foundation of Market Economics” which is a major textbook at several universities and academic institutions, his advisory services to several governments and Islamic banks, as well as his significant
role in developing curriculum in Islamic economics for selected British universities. Dr Tag el Din is also known for his efforts to address the long-standing challenge of how to bridge the gap between Maqasid AL Sharia, and the dominant debt-oriented culture within the Islamic financial industry and his proposed recipe – the Istisnaa-hedged Musharakah (ISHMU) – which attracted remarkable attention in the industry.