KUALA LUMPUR: The Royal Award for Islamic Finance is on a global search to honour an exceptional individual in the field of Islamic finance.

According to a press statement issued by the Securities Commission Malaysia The biennial Royal Award, spearheaded by Bank Negara Malaysia and the SC, recognises Islamic finance leades and visionaries who contribute significantly to the growth of Islamic finance globally and social progress of communities around the world.

The award recipient is selected by an independent seven-member international jury chaired by Islamic Economic Forum Foundation chairman Tun Musa Hitam. 

"The selection criteria for the Royal Award for Islamic Finance encompass both qualitative and quantitative aspects of an individual’s exceptional contribution towards Islamic finance globally," said the SC. 

"These include financial innovation and pioneering work, exceptional leadership, adoption and acknowledgement within the industry, and inspiration and influence towards future progress and development of Islamic finance."

The most recent recipient of the Royal Award for Islamic Finance in 2016 was Prof Datuk Dr Rifaat Ahmed Abdel Karim, who was instrumental in the establishment of two international standard setting bodies – the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB).
 
The closing date for nominations is March 31, 2018, and interested persons/parties can submit their nominations online via the website www.theroyalaward.com or email their submissions to RAIFSecretariat@seccom.com.my.