Islamic Development Bank Lunches FinTech Islamic Finance Challenge

ISDB Islamic Fintech challenge

Islamic Development Bank Group launches its 1st competition on FinTech Islamic Finance Challenge, supported by and IE Business School.

What is the FinTech Islamic Finance Challenge?

FinTech Islamic Finance Challenge is an opportunity to transform your technology-based idea into a social impact finance project. The challenge aims to support creative and innovative solutions that could improve access to Islamic financial services through technology and to those who are determined to contribute to a socially responsible development according to the Islamic finance principles

Closing date

All applications should be submitted latest November 30th, 2017

Selection of the best five projects

On December 15th the jury will deliberate and choose the five best projects that fit the competition,s criteria. These winning projects will be announced on December 20th.

Benefits and Awards

  • Madrid Bootcamp – The five best projects will attend a 4-day FinTech Bootcamp at IE Business School, Madrid
    Accommodation and transport for finalists and one representative for the project, experts fees, team building events, breakfasts and lunch are included.
  • Funding award – The top three will receive the following funding: First prize: $20.000 , Second prize: $10.000 , Third prize: $8.000
  • Networking opportunity at final pitch event at IE in front of investors, Islamic bankers, designers, artists and Sharia experts.
    Personal mentoring
  • Mentoring during a year from an IE mentor. Two online classes per month during one year (10 months) in order to get the final prototype or tangible result.

What they are looking for

  • Models and ideas – The competition accept ideas at all stages. Even if you are just starting to shape your business model or idea, you can participate in this competition.
  • Startups – Have you started something on the Fintech that relates to Islamic finance? then you too can apply.

One important requirement though

Your projects must be based in one of the 57 IDB Country Members.

Yes Gambia is a member of Islamic Development Bank

You can apply

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