JEDDAH: The closing ceremony of the Naif bin Abdul Aziz Al-Saud International Prize for the Prophetic Sunnah and Contemporary Islamic Studies is set to be held in Madinah on Tuesday. The prize, now in its 13th year, has become the global benchmark for scholarship in the field, with more than 435,000 students having participated to date. It is divided into three awards, for Prophetic Sunnah and Contemporary Islamic Studies, for serving Prophetic Sunnah, and for memorizing the Hadiths. The first category, this year titled “The Honor of Status,” rewards research in the areas of Prophetic Sunnah and contemporary Islamic Studies around the world. It also aims to reward the study of the modern Islamic World, and proposals for its improvement. Winners in each subsection receive a certificate of merit, a commemorative medal and SR500,000 ($133,000) in prize money. The second category, titled “Appreciation and Loyalty” is an international award of recognition presented every two years in one of the areas of serving the Prophetic Sunnah. The winner receives SR200,000. The third category, for memorizing the Hadiths, titled “Parental Care and Educational Gesture,” consists of three levels. The first level is to memorize 100 Hadiths dedicated to children, with the second and third requiring the memorizing of 250 and 500 Hadiths respectively. Students can win up to SR20,000 at the first level. The top prize for the second tier is SR30,000 while SR40,000 is on offer for the winner of the third.