SAMA launches research support program with cash rewards

The Saudi Central Bank (SAMA) on Tuesday launched the Islamic Finance Research Support Program to promote research in the financial sector.

SAMA said the program aims to enhance the Kingdom’s leading role in the Islamic finance sector globally.

The program covers a number of research areas including Islamic finance sectors, financial technologies (fintech) in the Islamic finance sector, regulations, standards, and Shariah governance. The endowment sector, capital markets, investment funds, and other areas related to the Islamic finance sector will also be included.

The program offers two tracks to researchers in the Kingdom and abroad.

Track I includes beginner researchers who are working on their Bachelor’s, Masters and Ph.D. degrees. Each research paper selected in Track I will win a cash reward of SR20,000 ($5,333).

Track II includes professional researchers who have professional experience in Islamic finance and have previously published papers in international journals. Each paper selected in Track II will win a cash reward of SR40,000.

Moreover, the top two winning research papers will split a cash prize of SR100,000.