The Arab Financial Inclusion Innovation Prize (AFIIP) champions a dynamic vision for financial inclusion. By capitalizing on the fast-moving digital world, innovation can facilitate a forward-looking and efficient sector.
AFIIP is created to reward such innovations which can increase the outreach and reduce the costs of financial services to better serve low-income businesses and individuals. In collaboration with Sanabel, winning applicants will receive up to $50,000 in prizes, including a cash grant, consulting services and the chance to present their idea at the 2018 Sanabel conference in Amman, Jordan.
Criteria for Winning:
Proposals will be evaluated on their potential impact on AFIIP’s three core objectives to further financial inclusion: increasing outreach, reducing costs and better serving end-clients. A preference will be given to innovations that have a direct measurable impact on the end clients.
The prize is looking for new and more efficient ways to maximize financial inclusion. Winning proposals must therefore be innovative. AFIIP has a broad definition of innovation, which can be found below. Winning proposals should consider these fields during their application.
Winning proposals must be feasible. Successful applicants will demonstrate how their innovation can be effectively implemented in the Arab world within a defined timeframe.
Winning proposals must have a significant probability of finding a market in the Arab world.