The Islamic Finance Research Support Program aims to support researchers in Saudi Arabia and abroad, and to advance and benefit from scientific research. The program enhances Saudi Arabia's leading role in the Islamic finance sector globally and confirms SAMA's continuous effort and determination to achieve integration in the research system as part of its social responsibility obligations and pivotal role in the field. Additionally, the program contributes to fulfilling the objectives of Vision 2030 of improving Saudi Arabia's knowledge position. On the other hand, the program gives researchers the opportunity to develop and make scientific solutions and contributions to advance the qualitative development of Islamic finance. 

Program Tracks:

The program offers two tracks:

Track 1: Beginner researchers who are working on their graduation theses for Bachelor's, Master's and PhD degrees in Saudi Arabia. The program will provide the researchers with the support needed to complete and improve the quality of their papers. Such researchers can participate in the program as individuals not as members of a research team.

Track 2: Professional researchers who have research experience in Islamic finance in Saudi Arabia and abroad and have previously published papers in international journals. Such researchers can participate in the program as individuals or as members of a research team that includes one researcher from SAMA.

Research Areas:

1. Islamic finance sectors:

(Islamic banking, cooperative insurance, finance companies, risk management, banking products and services...)

2. Financial technologies (FinTech) in Islamic finance sector:

(Innovation in Islamic finance, SMEs financing, financing solutions...)

3. Regulations, standards, Sharia governance:

(Sharia supervision, Sharia audit...)

4. Endowment sector:

(Awqaf, third sector...) 

5. Capital markets and investment funds:

(Capital markets, debt markets, investment products, impact investing, endowment funds...)

6. Other topics:

(Any other topics related to Islamic finance sector).

Program Controls:

• The researcher/research team must publish the research paper immediately after obtaining SAMA's official approval on the website of their university or institution, and on one of the following websites: Google Scholars, ResearchGate, SSRN or Semantic Scholar.
• The research team in track 2 must not consist of more than three researchers.
• A joint research team can be formed with one researcher from SAMA.
• Researchers wishing to participate in the program must complete the (application form) and send it along with the documents required to: IslamicFinance@SAMA.gov.sa
•  The Review Committee will review all research proposals submitted and select the best proposals.

Participation Terms:

• For track 1, it is preferred that the participant is still working on their graduation thesis for Bachelor's, Master's or PhD degrees in Saudi Arabia when submitting the research proposal.
• Any research proposal related to a previously published research paper will not be accepted.
• Each researcher/research team can submit one research proposal only.
• Researchers participating in both tracks can submit completed research papers (not research proposals), if such papers are already prepared and ready to be published for the first time.
• The researcher must comply with the ethics of scientific research academically recognized at the international level.
• Participants must comply with the terms and obligations of participation and the timetable.
• The research paper must be published and must clearly indicate that the researcher/research team is a member of a Saudi research or academic institution.
• The researcher/research team must give a presentation (either in person or remotely) on the progress and results upon completion of the research paper, provided that the presentation is organized in cooperation with their university/scientific department/research institution and documented electronically. A number of SAMA staff members may attend the presentation.
• The research proposal (or the completed research paper) can be submitted in Arabic or English. However, the research paper will be published in English.

Rewards:

Each research paper selected in track 1 will win a cash reward of SAR 20,000, and each research paper selected in track 2 will win a cash reward of SAR 40,000.

Prizes:

A cash prize of SAR 100,000 will be awarded to the top two winning research papers. Each paper will win SAR 50,000.

Timetable:

·  Proposal submission date: 10/08/2021

·  Proposal submission deadline: 30/09/2021

·  Research paper submission deadline: 30/12/2021 with the possibility of submitting the research papers before the deadline.   

 For further information, please contact us at: IslamicFinance@SAMA.gov.sa