Ph.D. Engineer Yousef Lamrani Alaoui has won the first prize in the International Award for the Best Application of Agent-Based Simulation (ABS) in Islamic Economics and Finance.
The Islamic Financial Engineering Laboratory (IFE Lab) on Tuesday announced winners of the second edition of the International Award for the Best Application of ABS.
Alaoui’s winning project was on Islamic crowdfunding as an alternative way of doing microfinance.
Yahya Hanine and Mohamed El Moktar Malick received the second prize for their project on group financing based on smart contracts, and the third prize went to Ahmed Mouad El Haloui for his work on how Islamic finance can help prevent and mitigate market distortions.
Meanwhile, Khadijah El-Hachami was awarded the fourth prize for her contribution towards an Islamic macroeconomic agent-based simulation, while Aissam Mansouri, Yassine El Idrissi, and Najlae Yachou received the fifth prize for their work on diminishing partnership for home financing and social impact.
The ABS award is expected to stimulate innovation and creativity in the field of Islamic economics and finance and encourage young researchers to contribute to the advancement of the field for the benefit of their communities and IsDB Member Countries.
This year’s prizes were intended for young researchers including current Ph.D. candidates and 2019 Ph.D. graduates.
Acting Director General of IsDBI Dr. Sami Al-Suwailem praised the efforts from both sides to make the IFE Lab a unique experience in using the ABS models in the field of Islamic finance.
“ABS has been successfully applied in many areas, including pandemic and other business applications. Ph.D. candidates should capitalize on the potential usefulness of this important tool in today’s complex economies,” said Dr. Al-Suwailem.