The Islamic Economics Awards, which have been given since the 6th Islamic Economics workshop, aim to reward and encourage researchers and institutions working in this field. This year, the Islamic Economics Thesis Award has been added to the awards given in 3 categories, namely the Islamic Economics Research Award, the Islamic Economics Contribution Award, and the Islamic Economics Application Award. In addition, the Special Award for Islamic Economics was among the awards given this year, exclusively for 2020.

The Islamic Economics Research Award is given to the veterans of the field of Islamic economics, who nurtured this field academically during the construction process of the field of Islamic economics and finance, raised young researchers in this field, and set an example and pioneer for them. The award is given to Monzer Kahf in 2020. Prof. Dr. Monzer Kahf is known for his contributions to Islamic economics and finance over the past 40 years. Kahf has contributed to the establishment of institutions dealing with Islamic finance and banking, Islamic law, and zakat in Saudi Arabia, Syria, America, Canada, Nigeria, and many other countries, and developed modules on Islamic banking and finance in these regions.

The Islamic Economics Contribution Award was given to Umer Chapra in 2020. Chapra has written 16 books and more than 100 articles and book reviews in the field of Islamic economics and finance, and some of his books and articles are available in a range of languages ​​such as Arabic, Bengali, French, Indonesian, Japanese, Malay, Persian, Polish, Spanish, Turkish and Urdu.

The Islamic Economics Application Award is given to institutions that contribute to the implementation of the principles of Islamic economics with their contributions to the sector, especially in the field of Islamic finance, and are the pioneers of cooperation and interest-free transactions in the market with the business or partnership models they have established. The award was given to the organization named the Islamic Economics Research and Application Association (IKSAR) in 2020.

The Islamic Economics Thesis Award was a new award title added to the Islamic Economics Awards in 2020. It aims to encourage young researchers who continue their graduate studies in this field and contribute to the theoretical dimension of the field as well as the practice with their thesis. In this context, the first award in the field of the dissertation was given to Ömer Faruk Tekdoğan for his doctoral study in the Department of Islamic Economics and Finance.

Finally, one of the awards given in 2020 was the Islamic Economics Special Award with symbolic significance. It was given to Abdullah Tivnikli, whom we lost in recent years, for his contributions to this field. Abdullah Tivnikli, who studied in the UK about the functioning, legal infrastructure, and applications of the participation banking model in the world and engaged in academic activities, returned to his country to work in the preparation of the legal infrastructure of participation banking upon an invitation in 1983 and took part in the establishment process of Albaraka Turk.