The Islamic Development Bank (IsDB) has announced the winners of the 2025 IsDB Prize for Impactful Achievement in Islamic Economics, honoring two pioneering projects for their creative and impactful contributions to economic development inspired by the principles of Islamic economics.
Medikids secured first place for its innovative waqf initiative, addressing waqf management challenges in Indonesia. The initiative leverages dental clinics for children and families to generate sustainable funding. Established in 2018, Medikids achieved financial stability within three years and launched a scholarship program for healthcare professionals in its second year. A portion of its net profit waqf is dedicated to enhancing waqf assets and various social welfare initiatives.
The selection committee has decided to withhold the second-place award.
The third-place prize was awarded to the Blue Filter initiative, which created a prototype to purify water by removing harmful pollutants like nitrates, chloride, and heavy metals. This technology combines natural filtration techniques with advanced automation and control systems, resulting in a solution that is both sustainable and highly effective. It also features real-time monitoring and loss management systems to ensure optimal performance and minimize water waste.
The prizes will be presented at the IsDB Group Annual Meetings, scheduled for 19-22 May 2025, in Algiers, Algeria.
IsDB Group Chairman HE Dr. Muhammad Al Jasser congratulated the winners, praised their contributions to Islamic economics, and wished them continued success. “The IsDB Prize serves as a key driver of strategic significance, promoting the transformation of knowledge and principles of Islamic economics into actionable initiatives and innovative projects aimed at fostering comprehensive economic development,” stated Dr. Al Jasser.
The winners were chosen by the IsDB Prize Selection Committee, which comprises eminent experts and scholars, coordinated by the IsDB Institute.
Excerpts from the IsDB Prize Selection Committee Citations:
Medikids Clinic
- It serves the important role of civil society waqf in supporting the mission of a combined health sector and education sector, serving the underprivileged component of society.
- The waqf-based model is considered sustainable due to its appropriate earning incentive framework, which is in harmony with the principles of Islamic economics.
Blue Filter
- It provides a potential solution for IsDB member countries while aligning with the strategic goals of the IsDB, especially concerning food and water security.
- The model emphasizing blue and bio elements has rendered it more appealing than alternative solutions that are generally contaminated with chemicals.
Established in 1988 as the ‘IsDB Prize in Islamic Economics, Banking, and Finance,’ the prize expanded in 2020 to recognize achievements in two categories, offered alternately: (i) Development Achievement and (ii) Knowledge Contribution. The 1446H (2025) Prize cycle focuses on Development Achievement, highlighting successful projects addressing development challenges in IsDB member countries and Muslim communities worldwide.
Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).
