Following its inception in 1397H / 1977G, the King Faisal International Prize (KFIP) has quickly established itself as one
of the world's most prestigious awards. This reputation could not have been accomplished without, firstly, the strict adherence to nomination and selection procedures to ensure that all the winners are selected solely on the basis of merit, and secondly, the continuous support of academic institutions both nationally and internationally Through the Prize, the King Faisal Foundation seeks to show its appreciation to those individuals who have rendered exceptionally outstanding services to Islam and Muslims, and to scholars and scientists who have made significant contributions and advances in areas that benefit developing and Islamic countries, and humanity at large.
Each year, Islamic organizations, universities and other learned circles throughout the world nominate individuals for any
of the five categories of the Prize. The winners are usually announced in January, and receive their awards two months later in a special ceremony held in Riyadh under the auspices of the King of Saudi Arabia. This ceremony is one of the most important annual events organized by the King Faisal Foundation.