Endeavour Leadership Program 2019
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Arab Financial Inclusion Innovation Prize

The Arab Financial Inclusion Innovation Prize 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 USD in prizes, including a cash grant, consulting services and the chance to present their idea at the 2018 Sanabel conference in Amman, Jordan.

Our Vision
Year on year, AFIIP seeks to create a synergy between financial inclusion and innovation. The ideas which arise will strengthen and diversify both sectors and harness the new and adaptive technologies defining our world.

Criteria For Winning
Impact
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.

Innovation
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.

Implementation
Winning proposals must be feasible. Successful applicants will demonstrate how their innovation can be effectively implemented in the Arab world within a defined timeframe.

Market
Winning proposals must have a significant probability of finding a market in the Arab world.

Are you Eligible?
Geography
Eligible innovations must be by Arabs for 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
We 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.


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