Announcements

The Islamic Development Bank (IDB) awards an International Prize on an annual basis alternating between Islamic Economics and Islamic Banking. The Prize is awarded on the recommendation of an international Selection Committee, which is constituted of experts and scholars from outside the Islamic Development Bank.

Thus, IDB Prize for 1423H (2002-2003) in Islamic Economics was awarded jointly to Dr. Abbas Mirakhor, from the Islamic Republic of Iran, and Dr. Mohsin Khan, from the Islamic Republic of Pakistan. Insha Allah, the IDB Prize for the year 1424H (2003-2004) will be awarded in the field of Islamic Banking.

The IDB invites nomination of any individual or institution whom you deem fit for the award of IDB Prize in Islamic Banking for the year 1424H (2003-2004), in light of terms and conditions stated below:

The Prize:

The Islamic Development Bank (IDB) has established a Prize to be awarded on an annual basis alternating between Islamic Economics and Islamic Banking.

The Prize consists of the following:

a)       A citation, carrying the Bank’s emblem.

b)       A cash award of 30,000 Islamic Dinar (approx. US $ 40,000)

The cash award is under revision and expected to be US $ 50,000

The IDB Prize for the year 1424H (2003) is in the area of Islamic Banking.

Objective

The objective of the Prize is to recognize, reward and encourage creative efforts of outstanding merit in the field of Islamic Banking.

Invitation for Nominations

The Islamic Development Bank has the pleasure to invite individuals, universities, academic, financial and Islamic institutions throughout the world, to nominate whoever they deem eligible to be awarded the IDB Prize for the year 1424H (2003) in the field of Islamic Banking.

Nomination Procedure

1.        Candidates may be nominated by organisations or individuals

2.        Self-nominations and posthumous nominations are not acceptable

3.        The nomination letter, written either in Arabic, English or French, should give full justification for the nomination. It should be accompanied by:

a)       Full bio-data/description of the nominated candidate/ institution;

b)       Four copies of each of the research works and/or a statement of services rendered, in support of the nomination;

c)       An abstract of each of the above research work/statement of services in Arabic, English or French.

4.        Last date for receiving nominations is Saturday, 29 Sha’ban 1424 (25 October 2003). Any nomination received after this date or incomplete nominations shall not be considered. Full documentation of nomination(s) is necessary.

5.        Nomination should be mailed to the address given below:

Chairman

IDB Prize Preparatory Committee

Islamic Research & Training Institute (IRTI)

P.O. Box 9201

Jeddah 21413

Kingdom of Saudi Arabia

Tel: 966-2-6361400 / 6466129

Fax: 966-2-6378927 / 6366871

Email: IDBPrize@isdb.org.sa

For details, visit IRTI Web Page at www.irti.org.sa

Qualifications

1.        A nominee should have conducted a research work or rendered services of outstanding merit towards the fulfillment of the objectives of the Prize.

2.        Works or services on the basis of which nomination is made, may take any of the following forms:

a)       Research work of outstanding merit in the field of Islamic Banking.

b)       Mobilisation of intellectual capabilities and/or creative efforts for the promotion of Islamic Banking.

c)       Implementation of Islamic Banking programs designed to achieve the objectives of the prize.

3.        The research works, on the basis of which nomination for the Prize is made, should have been published and received academic recognition.

4.        Works which have already won any international prize shall not be considered for the Prize.

Awarding the Prize

The Prize is awarded annually in an official ceremony. However, the IDB reserves the right to withhold awarding the Prize in any given year, if no appropriate candidate is identified. More than one laureate may share the same Prize. The Prize can be awarded either to individuals or organisations.

Shah Waliullah Award for the year 2002

The Institute of Objective Studies, New Delhi has instituted the Shah Waliullah Award in commemoration of the outstanding contribution of the 18th century Muslim scholar and saint, Shah Waliullah of Delhi, to the rejuvenation of Islamic learning in India. The first award in the series, for the year 1999 was posthumously conferred on the late Maulana Abul Hasan Ali Nadvi, popularly known as Maulana Ali Mian, for his contribution to “Islamic disciplines” (Uloom-e-Islami)”. The second award was conferred on Qazi Mujahidul Islam Qasmi, the renowned Islamic Scholar and an authority on Islamic Fiqh. The third award was conferred on Prof. M. Nejatullah Siddiqui, an authority in the area of Islamic Economics and Islamic or interest-free banking.

The forthcoming would be for the year 2002 on the topic “Quranic Disciplines and the Contemporary Context”. The focus may be on the contribution of the scholar to understand the modern time with all its complexities from a truly Qur’anic perspective. The Urdu version of the topic of Essay stands as Shah Waliullah Ke Qur’anic Fikr.

The last date for receipt of nomination is October 21, 2003.

Further, the Institute invites the young scholars and researchers to submit the Essay on “Shah Waliullah’s Approach to the Qur’anic Disciplines”. The best Essay will be awarded Rs. 25,000/-. The Urdu version of the topic stands as: Qur’anic Uloom Aur Asri Tanazur.

The last date for submission of the essay on the above topic is October 30, 2003.

The universities, the Dar-ul-Ulooms and other educational and research institutions are requested to make suitable nominations for the award. Intellectuals outside these institutions may also send similar nominations if they so desire.

Forms for nominations and other rules governing the award as well as the rules in respect of Essay Writing Competition can be obtained from:

The Programme Officer

Institute of Objective Studies

162, Jogabai Main Road

Jamia Nagar

New Delhi-110025

Tel: 011-26981178, 26989253

Fax: 011-26981104

Email: manzoor@ndf.vsnl.net.in

Website: www.iosworld.org

Book Review

Status of Islamic Studies in India: An Overview by the Japan Foundation, New Delhi.

This is a small but important monograph published by the Japan Foundation, New Delhi. It is, in fact, a collection of articles read out at a seminar organised by the Japan Foundation. Partha Ghosh has written an introduction in which he has raised some important questions. It is difficult to agree with all his ideas; however, there are things which carry a good deal of importance and India’s Muslim community will be well-advised to ponder over them.

Besides the introduction, the monograph contains four articles. In his contribution: Status of Islamic Studies in India, Dr. Ishtiyaque Danish ahs traced the origin of Islamic Studies in India. He has given a good survey of the madrasa education, the system and the syllabi it taught and has tried to prove that the madrasa system has the potential to cope with the modern time and make itself relevant in today’s world. Dr. Danish has also presented a vivid description of the Islamic scholarship, specially how it developed over the centuries. He has finally suggested that Islamic scholars need to do a lot from a social science perspective.

In his article, Minority and Islamic Precepts, Prof. Z.M. Khan has perceptively discussed some very vital issues. Contrary to the media image of Muslims and Islam being intolerant, he has concluded that Islam believes in pluralism and the Muslim societies may have their failings but by and large majority of Muslims has always tried to coexisted with others.

Prof. A.R. Momin in his contribution has highlighted the preeminent merits of the Islamic concept of social justice. He has rightly remarked that “egalitarianism, human brotherhood and social justice form the bedrock of the social structure of Islam”. He has then proceeded to explain all these cardinal principles.

In his contribution, Business Ethics and Islam, Prof. M.K.A. Siddiqui has tried to prove that Islam believes in developing Islamic business ethics which help establish a socio-economic order that ensures equal treatment and justice to all.

The Japan Foundation deserves congratulation for bringing out this timely and vital monograph on the status of Islamic scholarship in India. One hopes the Foundation’s endeavours to understand Islam in proper perspective will be duly appreciated. It is also expected that the Foundation will carryout such activities in future as well.