The Islamic Development Bank Institute (IsDBI) expresses its heartfelt condolences on the passing of Prof. Muhammad Umer Chapra, a towering figure in Islamic Economics, the first winner of the IsDB Prize in Islamic Economics in 1989, and recipient of King Faisal International Prize in Islamic Studies in 1990.

Prof. Chapra, who passed away on 13 June 2026, was a distinguished scholar, globally respected for his pioneering contributions to Islamic economic thought. He served as a Senior Advisor at the Islamic Research and Training Institute (IRTI), where he played a foundational role in advancing research, policy dialogue, and knowledge dissemination in Islamic economics and finance.

Over several decades, Prof. Chapra’s intellectual leadership helped shape the modern discourse on Islamic economics and finance. His influential works have had a lasting impact on academia, policy circles, and financial institutions across the world.

Prof. Chapra was widely recognized for his scholarly excellence and his commitment to articulating an ethical and inclusive economic system rooted in Islamic principles.

During his distinguished career, Prof. Chapra served in key advisory roles, including at the Saudi Central Bank, where he contributed to the development of economic and monetary policies. His legacy extends far beyond institutions, reflected in generations of scholars, practitioners, and policymakers inspired by his work.

The IsDBI honors Prof. Chapra’s immense contributions to knowledge and development. His vision of an equitable and morally grounded economic system continues to guide the Institute’s mission of advancing Islamic economics and finance for sustainable development.

The Institute extends its deepest sympathies to Prof. Chapra’s family, colleagues, and the global academic community. We ask the Almighty Allah to forgive him and receive him in the place of the righteous with the foremost believers and martyrs.