Applications are open for the Arab Financial Inclusion Innovation Prize. The Arab Financial Inclusion Innovation Prize equips promising innovators with the funding. Further, the support they need to realize their potential to further financial inclusion in the Arab world. It rewards those who can increase access to financial services, reduce the costs of that access, and better serve end clients in the region.

Moreover, The Prize equips promising innovators with the funding and support they need to realize their potential. Further,  to further financial inclusion in the Arab world. It rewards those who can increase access to financial services, reduce the costs of that access. Also, better serve end clients in the region. Further, Through the prize and AFIIP network. They aim to create a synergy between financial inclusion and innovation to strengthen and diversify both sectors. Also,  harness the new and adaptive technologies defining our world. After the success of the inaugural 2018 prize. Further, AFIIP 2019 is expanding to increase its impact on financial inclusion in the Arab world.

Prize

• A cash prize will be awarded to the winners of AFIIP 2019. Read what the winners of the inaugural 2018 prize were able to do with the money they received in.
• The 2019 winners will also receive technical support to help develop their innovation, through networking opportunities and professional advice and guidance.
• AFIIP 2019 finalists will also be invited to the attend Sanabel, the largest microfinance conference in the region, to provide them with networking opportunities and to support the development of their innovation.

Eligibility

• Eligible proposals must be by Arabs for the Arab world. Residency in an Arab country is not a requirement, but at least one member of the team must hold an Arab nationality. The proposed innovation must be for implementation in the Arab world.
• Innovative proposals at all stages of development are welcome.
• Applicants are to be able to show that their innovation can be successfully applied to the sector.
• Microfinance and financial inclusion are in their broadest sense to encompass a wide range of fields, including but not limited to credit, savings, insurance, payment services, Islamic finance, fund transfers, responsible investment, collective banking, and business development services of micro-enterprises.
• They welcome applicants of many types to apply for the prize, including individuals, small businesses, MFIs, NGOs, students, cooperatives, commercial banks, local development banks, leasing firms, insurance companies, and fintech enterprises.