Kuala Lumpur, 21 July 2010

Malaysia’s Royal Award for Islamic Finance

The search to honour the exceptional individual for outstanding contribution to global Islamic finance has received royal endorsement.  

Upon the recommendation of the Malaysian Government, His Majesty the Yang di-Pertuan Agong of Malaysia, has given his consent for the Award to be named “The Royal Award for Islamic Finance”.

The royal endorsement will certainly add prestige to the Award, which is spearheaded by the Malaysia International Islamic Financial Centre (MIFC) initiative.

Tan Sri Dato’ Sri Dr Zeti Akhtar Aziz, Governor of Bank Negara Malaysia and Chairman of the MIFC Executive Committee said, “We are honoured to be bestowed the royal recognition for the Award on its inception. This will further inspire the development of global Islamic finance.”

His Majesty the Yang di-Pertuan Agong will present the Award to the winner at a gala dinner, to be held on 25 October 2010 in Kuala Lumpur. 

Unlike commercial awards which are typically deal-based, this Award focuses on an individual’s record of achievement and outstanding contribution towards the advancement of Islamic finance globally. 

An independent international jury, chaired by the former Malaysian Deputy Prime Minister and Chairman of the World Islamic Economic Forum Foundation Tun Musa Hitam, will select the deserving individual.

The MIFC initiative today unveiled the Award’s logo, which is in the shape of 5 diamonds. The diamonds represent the 5 pillars of Islam as well as the principles of Islamic finance which are: good governance, transparency, fairness, faith and risk-sharing.

Nominations for the Award closed on 15 July 2010 and the winner will be announced on 25 October 2010.  For more information on the Award, please visit www.mifc.com/award

On behalf of the Malaysia International Islamic Financial Centre (MIFC)