Jeddah, 20.04.2013,
The Islamic Development Bank has decided to withhold the award of the IDB Prize in Islamic Economics for the year 1434H (2013) in the light of the recommendation of a Selection Committee.

The decision of the Committee comprising five external eminent scholars and two experts from the IDB Group, which examined 24 nominations, was unanimous.

The IDB established the Prize in 1988 to recognize, reward and encourage activities of outstanding merit to promote Islamic Economics, Banking and Finance. In the last 25 years, 34 researchers, bankers, economists, Shari‘ah scholars and institutions have been awarded the IDB Prize, which alternates annually between Islamic Economics and Islamic Banking & Finance.