Winners Introduced at Arab Monetary Inclusion Innovation Prize

The inaugural worth of the Arab Prize for Monetary Inclusion for Inclusion (AFIIP) 2018 was introduced on the closing ceremony of the Sanabel Microfinance Convention in Amman on November 7, 2018.

Three entities have been honored among the many eight finalists who introduced their concepts on the convention. The finalists have been chosen in line with AFIIP's innovation standards, their affect on the feasibility of monetary implementation and marketable high quality within the Arab world .

The AFI 2018 acquired practically 100 proposals geared toward growing the monetary inclusion of 16 nations within the Arab world. A panel of 11 judges, all specialists of their discipline, evaluated the proposals in a rigorous two-step course of in line with varied standards. One of many judges, Jenny Atout Ahlzen from Silicon Badia, commented on how encouraging it was to "see the variety of concepts submitted to AFIIP, from each startups and present MFIs, a lot of which have golden alternative to essentially get issues performed. monetary inclusion within the Arab world. "


First prize of $ 30,000 was awarded to IFIN Companies for its progressive method to facilitating Islamic finance. By decreasing transaction prices and operational deadlines, they’ve resolved a significant hurdle within the business and introduced a transparent and executable plan for the approaching years.

The second prize of $ 15,000 was awarded to the Moroccan start-up CIWA, for the event of a cellular utility offering a safe and complete instrument for creating, organizing and managing communities of curiosity. 39, financial savings and credit score revolving.

The third prize, price $ 10,000, went to the Lebanese Microfinance i establishment Al Majmoua, for its progressive use of geographic information and providers finding for brand spanking new clients, improve effectivity and enhance buyer relationships.

AFIIP allowed all of its finalists to determine relationships within the microfinance sector. 12 months after 12 months, the award is predicted to develop and have a fair larger affect to encourage innovation within the Arab world.

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