Changemakers offers $ 30,000 and one year of mentoring.
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The Islamic Development Bank and the Saudi-Spanish Center for Islamic Economy and Finance of the IE Foundation support “Changemakers”, An initiative open to anyone around the world who wants to act to solve a social problem in their community.
The aim of the initiative is to support social entrepreneurs or innovative business leaders who develop projects that can be repeated in other regions of the world and have positive social effects.
“So-called Islamic finance is an alternative financial system that is very present in Muslim countries, especially in the Persian Gulf region and in Southeast Asia, and is inspired by religious principles. Its main features are the prohibition of the interest in financial transactions, which is always associated with the non-speculative real economy, the prohibition of dealing with sectors harmful to humans such as alcohol, gambling, pornography, etc., and the operation under egalitarian and fair rules in which the Financier and financier always take the same risk, “explains Gonzalo Rodríguez, general coordinator of Saudi Spanish Center for Islamic Economy and Finance (SCIEF) the IE Foundation.
Projects related to fintech, microfinance, digital economy and creative industries that comply with these principles can be submitted. The three winning projects will receive prizes of $ 30,000. The top finisher will receive a one-year mentoring program at IE Business School.
To enter, you must enter the competition’s official page before September 30th this year.
This competition is organized by the Islamic Development Bank and IE Business School through their foundation with the SCIEF, the research center for Islamic finance. It is intended to support projects that have already been carried out from all over the world under the guidance of compatible entrepreneurs with Islamic finance and innovative, based on social justice.