The Islamic Research & Training Institute (IRTI) announced on Wednesday that Prof. Zubair Hassan, an Indian national, and who currently lectures at the International Islamic University in Kuala Lumpur, Malaysia, was awarded the IDB prize for 1430H in Islamic economics in recognition of his great contribution in this field, says a press release issued here. According to the press release, the cash prize worth more than US$ 40,000, a citation and a badge with the Bank's insignia, will be presented to Prof. Hassan on the occasion of the 34th annual meeting of the IDB Board of Governors to be held in Ashgabat, Turkmenistan, on 9-10 Jumad II 1430H (June 2 - 3, 2009). Speaking on this occasion, Dr. Ahmad Muhammad Ali, the President of the IDB Group, congratulated Prof. Hassan and commended his contribution to Islamic economics. He added that the bank created this prize in 1408H (1988) in order to encourage and reward all creative contributions in the field of Islamic finance and banking. He pointed out that so far 29 scholars, researchers and economists from various countries had won this prize, which was awarded each year alternately in Islamic economics and Islamic banking. The Prize Selection Committee, which consists of prominent scholars and experts from outside the bank under the chairmanship of Dr. Abdel Salam Al Ibadi, Secretary General of the Fiqh Academy and former Minister of Awqaf in the Hashemite Kingdom of Jordan, had met at the Bank's Headquarters in Jeddah.
