The board of trustees of the Economic Cooperation Organization Science Foundation (ECOSF) passed a proposal to join the endowment community of the Mustafa Prize earlier in October.
According to the public relations department of the Mustafa Prize, ECOSF is an intergovernmental organization comprised of ten Islamic countries whose main objective is to accelerate economic development of the member-states through fostering science, technology and innovation.
The ECO which covers a population of 360 million, accounting for a quarter of the world’s Muslim population, is the largest economic organization in the Muslim world.
"The board of trustees discussed the proposal and appreciated the endeavor by the Mustafa Prize secretariat to honor works of academics and researchers in the Islamic world," ECOSF's statement said after joining the endowment scheme of the Mustafa Prize.
The statement added that the proposal was passed and the ECO Science Foundation is ready for any technical or spiritual support so as to introduce and also promote the Mustafa Prize in scientific communities within the ECO region.
It is worth noting that the Mustafa Prize Investment and Endowment Fund (MPIEF) was launched in 2012 with the aim of introducing and praising cutting-edge works by Muslim scientists. The fund also supports scientific development and commercialization of technology in the fields pertinent to the Mustafa Prize defined categories, in the form of research grants and financial assistance. The first Mustafa Prize awards ceremony was held in 2015, when Omar Yaghi from Jordan and Jackie Ying from Singapore received the prestigious award.
The Mustafa Prize is awarded to the four fields of nanoscience and nanotechnology, bio and medical sciences and technology, information and communication sciences and technology, and the top idea presented by a Muslim scientist. The winners of the prize in each section will receive the appreciation letter and the Prize's medal, and each of them will receive $500,000 as special award.
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