India’s Consul General in New York Dnyaneshwar M Mulay presented the award to Islam who had donated $222,000 this year to the Aligarh Muslim University in India.
Islam responded saying he has received many awards but this is extra special because it comes from the prestigious organisation in its silver jubilee year.
Islam, 63, was born in Uttar Pradesh and is married to Debbie Driesman, 61. He heads the FI Invest Group and serves on several boards and advisory councils. He has written two books.
The donation to the Aligarh Muslim University will be used to build the Frank and Debbie Islam School of Management with an endowed chair and to build a technical college for girls in Azamgarh, in memory of his mother Qumran Nisan.