Ethical Finance Initiative Award Winner: Justin Sykes, Kaah International Microfinance Services
Kaah International Microfinance Services (KIMS) is Somalia’s only dedicated privately owned microfinance institution. Launched in 2014 KIMS provides responsible andsharia compliant financing to Somali micro and small business as well as offering micro-savings accounts. KIMS operates across the Somali territories via 11 branches and has provided more than $6 million in life-changing financing to over 7,000low income Somalis since its launch.
KIMS developed two specially tailored shariah compliant loan products to meet the specific needs refugees:
- Start-up micro-credit for individuals
- Business expansion financing for fisheries cooperatives
Lifetime Achievement Award Winner: H.E. Dr. Ahmad Mohamed Ali Al-Madani
H.E. Dr. Ahmad Mohamed Ali Al-Madani, Ph.D., has been the President of Islamic Development Bank and Islamic Development Bank Group since 1975 and serves as its Chairman of the Board of Executive Directors. He has hands-on experience on developmental issues in the OIC member countries. H.E. Dr. Al-Madani began his career in education and the development of manpower, where he served as Director of Scientific and Islamic Institute from 1958 to 1959. His contribution to the development of people was recognized by the government of the Kingdom of Saudi Arabia and he served as Deputy Minister of Education from 1972 to 1975. He served as Secretary-General, Muslim World League, Makkah Al-Mukarramah from 1993 to 1995. He has also been contributing to the welfare of the community in the Kingdom by extending his services to the Higher Education Councils of five Universities and as a Board member of the Saudi Fund for Development. His views on development in different fields have been expressed in many articles, speeches, lectures and working papers on Islamic Economics, Banking and Education. His career has been devoted for the development of the people, community, society and he looks forward to a totally developed world.