Jeddah,9.5.2010 :
The Islamic Development Bank has announced that Prof. Rifaat Ahmad Abdul Karim, from Sudan, winner of the IDB prize in Islamic banking and finance for the year 2010 in recognition of his substantial contribution to this field. The prize will be awarded to Prof. Rifaat during the 35th IDB BOG Annual Meeting in Baku, Azerbaijan, on 11-12 Rajab (23 th-24th June 2010).
In a statement, the President, IDB Dr. Ahmad Mohamed Ali, congratulated Prof. Rifaat on his accomplishments and commended him for serving and promoting the cause of Islamic Banking and Finance.
The Selection Committee which was chaired by H.E. Abdul Hameed Abu Musa, a renowned Islamic banker, composed of eminent personalities and experts from outside the Bank.

The committee considered the significant contributions of the winner in supporting the development of Islamic Banking and Finance through various publications in the field; taking into account his very valuable services in the standard-setting organizations of Islamic Financial Services Industry, namely, Accounting Standard and Auditing Organization of Islamic Financial Institutions (AAOFI) and Islamic Financial Services Board (IFSB). It also considered his international reputation in serving the cause of Islamic banking and finance in several countries and international organizations.

The prize was established by the Bank in 1979 with the aim to reward and promote outstanding work in Islamic economics, banking and finance. In the past 23 years, the Selection Committee has awarded the IDB prize to 31 researchers, bankers, economists and institutions, annually alternating between Islamic Economics and Islamic Banking and Finance.