The Arab Financial Inclusion Innovation Prize: Win up to $60,000 and technical assistance for your innovation

Innovation for Financial Inclusion:
- Increase the outreach of financial services
- Reduce the costs of financial services
- Build financial resilience and economic opportunities
- Enhance the financial ecosystem of the Arab world
- AFIIP are ready to support you and take your solution to the next level. Whether you are a start-up or an incumbent financial institution, operating across the financial sector from payments to insurance, savings to education to back-office solutions, apply now to join the network of financially inclusive innovation.

Financial Innovation for our Planet:
- Mitigate the risks of climate change
- Increase environmental resilience for the low-income and MSMEs
- Provide sustainable opportunities to the underserved
- Enhance the green finance ecosystem of the Arab world
- AFIIP will support solutions that can improve the access and affordability of financial services while generating green outcomes, such as cleaner energy, reduced greenhouse gases, increased resilience to environmental shocks, and greater biodiversity in the Arab region.

The Arab Financial Inclusion Innovation Prize (AFIIP) has launched applications for Innovating Financial Inclusion at the center of innovation in the Arab world. Depending on your solution, this year there are two ways to apply:

General informations

Themes

Capacity building
Financial Education

Target population:

Employees of associations
Adults

Budget:

$60,000 US

Funders:

The Arab Financial Inclusion Innovation Prize (AFIIP)

Eligibility criteria:

Geography: Eligible proposals must be for implementation in the Arab world. Residency in an Arab country is not required, but at least one member of the team must hold an Arab nationality. The proposed innovation must be for implementation in the Arab world, defined as the member countries of the Arab league.
Stage of Development: Innovative proposals at all stages of development are welcome. Applicants must be able to show that their innovation can be successfully applied to the sector. Microfinance and financial inclusion are defined 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.
Team: 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.

How to apply?

The process works in four stages:

1. Before 25th June 2021:

for the Arab Financial Inclusion Innovation Prize: Apply using this form
for the Arab Financial Innovation for our planet: Apply using this form

You may submit the form in Arabic, English or French.

2. July 2021: Shortlisted candidates will be contacted to provide more detailed information about their solution.
3. August 2021: Finalists and winners will be announced
4. September and beyond: We will work with finalists and winners to step up their solutions.

If you have any questions, please email innovate@afiip.org

Download the entire call for project here