With cash prizes and recognition, participants will compete in teams to design impactful AI tools that improve standardization, compliance, and decision-making within the Islamic finance ecosystem
JEDDAH, Kingdom of Saudi Arabia, April 9, 2025/ — The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce the launch of its First AI Hackathon on Islamic Finance, scheduled to take place from 8–10 May 2025. This pioneering event brings together students and young professionals in computer science, artificial intelligence, and finance to work on AI-powered solutions that support the adoption and implementation of selected AAOIFI Financial Accounting Standards (FAS). The hackathon aims to encourage creative and practical solutions that bring Islamic finance standards to life in a more accessible, efficient, and globally harmonized way.
With cash prizes and recognition, participants will compete in teams to design impactful AI tools that improve standardization, compliance, and decision-making within the Islamic finance ecosystem. The teams will gain hands-on experience, engage with leading experts, and help shape the future of Islamic finance through innovation and purpose-driven technology.
Are you ready for the AI revolution?
Join us for an exciting AI Hackathon where students and professionals from the fields of computer science, AI and Finance and Accounting collaborate to develop AI-powered solutions centered around selected AAOIFI Financial Accounting Standards (FAS).
This first-of-its-kind hackathon will explore how AI can be tailored to make these standards easier to implement and adopt, more comprehensive, user-friendly and globally compatible, leading to higher compliance rates and better financial decision-making in the Islamic Finance sector (financial engineering, compliance, product structuring and standardization).
Why Participate?
Participating in this AI Hackathon is more than just a competition—it’s an opportunity to make a real impact in the evolving landscape of Islamic finance.
Exciting Rewards and Recognition – Compete for prizes, gain recognition from industry leaders, and boost your career with an achievement that sets you apart.
Make an Impact in Islamic Finance – Contribute to the future of financial standardization and compliance in the Islamic finance sector, helping institutions make better decisions and enhance regulatory adherence.
Innovate with Purpose – Leverage AI to enhance the implementation and adoption of Islamic Financial Accounting Standards, making them more accessible, efficient, and globally compatible.
Learn, Network and Showcase – Gain hands-on AI experience in Islamic finance, collaborate with industry experts, and showcase your skills to stand out in the field.
Awards:
- First Place: 10,000 USD
- Second Place: 7,000 USD
- Third Place: 4,000 USD
Who Can Participate?
Students and Professionals in teams of 3-5 with required specialties in Computer Science, AI and Finance and Accounting.
Evaluation Criteria and Judging Panel
Your submission will be assessed based on:
Accuracy and Compliance – Alignment with AAOIFI standards.
Innovation and Creativity – Novel approaches to solving your own proposed challenges.
AI Performance Improvement – Effectiveness in refining AI-generated outputs.
User Friendliness – intuitive user experience.
The Judging Panel will include experts in Islamic Finance, AAOIFI Accounting Standards and Artificial Intelligence.
Frequently Asked Questions (FAQ)
Can I join as an individual?
You have to form a team containing at least 3 members with the required expertise in computer science, AI and finance (maximum of 5 team members).
Will the hackathon be virtual or on-site?
It is a hybrid format where the pre-event workshops will take place online, but the actual hackathon will be on-site, the venue will be communicated in due course.
Stay Tuned for More Details!
We’re gearing up for an exciting AI Hackathon on Islamic Finance, and we can’t wait to share more details with you!
Follow us and keep an eye on our official channels, exciting announcements are coming your way!
Details about registration, workshops, venue, and much more will be revealed soon!
Get ready to shape the future of AI in Islamic finance! Start building your dream team for this groundbreaking hackathon!
More information is available on www.IsDBI-Hackathon.com
