Abu Dhabi Islamic Bank (ADIB) and Thomson Reuters have announced the three finalists for their Ethical Finance and Innovation Challenge and Awards (EFICA).

The EFICA awards, launched in 2013 to recognise and reward innovation in ethical finance, aim to inspire real change in the banking and financial services industry by showcasing and developing practical innovations which promote sustainability and social benefit.

Shortlisted entries include Somalia’s only privately-owned microfinance institution, a specialist environment, social and governance (ESG) quant fund, and the largest Shariah-compliant retirement contribution scheme in the world.

Each finalist was selected by EFICA’s advisory board, which includes prominent Islamic scholars and financial experts, from over 100 submissions, based on the quality and significance of their proposition.

The three finalists will exhibit their entries at the fifth edition of the awards ceremony, which will take place on November 15, 2017 at The Ritz Carlton, Dubai International Financial Centre, UAE.  

The winner will be chosen based on votes from the audience at the dinner. A single prize of US $100,000 will be awarded to first place, with the other two finalists each receiving US $20,000.

The EFICA Lifetime Achievement Award will also be presented at the event to an individual judged to have made a notable contribution to ethical practices in the financial services sector.

Also, there will be a keynote speech by H.E. Dr. Ahmad Mohamed Ali Al-Madani, Ph.D

For more information about EFICA please visit: http://efica.com

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