|
The winners will be awarded in a very special ceremony to be organized during the Annual Meetings of Islamic Development Bank Group (IsDBG) to be held in June 2021
|
|
The Islamic Corporation for the development of the Private Sector (ICD) (www.ICD-idb.org), the private arm of the Islamic Development Bank Group (IsDBG), today launches the “ICD Finnovation Award 2020”, to recognize, showcase and encourage financial institutions that provide an outstanding solution for the financial industry.
The COVID-19 pandemic has created an unprecedented scenario for individuals, households, businesses, and institutions globally. Partial solutions at play are new financial instruments and technology. This special initiative is therefore aimed at exploring more the role of technology and innovation in providing sustainable solutions to current challenges, including those posed by COVID-19. “Finnovation” is an online platform, “ www.InnovativeFIs.net ”, which ICD utilizes to list and highlight successful innovations of Financial Institutions (FIs) and FinTech startups at a global level. Mr. Ayman Sejiny, the Chief Executive Officer of ICD stated: “The world is currently experiencing the devastating effects of the Coronavirus (COVID-19) pandemic. Majority of forecasters now expect the world GDP to shrink in the coming years, and we believe that part of the solution to overcome the related challenges is through development and design of innovative solutions for businesses and economies, as well as other advanced solutions which can be adopted in banking and other finance services. As a multilateral institution, we need to encourage such innovations.” |
