The Impact Challenge Prize aims to bring greater recognition to innovative solutions that are based on Islamic finance principles or are Islamic finance enablers, which can improve the economic and social resilience of financially impacted communities globally. The inaugural Impact Challenge Prize is organised in collaboration with The World Bank Group Inclusive Growth and Sustainable Finance Hub in Malaysia as a technical partner and supported by the Malaysia Digital Economy Corporation.

The theme for the 2022 cycle is Advancing the Sustainability Agenda: Strengthening Economic and Social Resilience of Financially Impacted Communities through Islamic Finance.

Applicants will be evaluated based on four (4) primary criteria:

• Inventiveness;
• Impact;
• Feasibility/Commercial viability; and
• Scalability.