The Banipal Prize, whose full name is the Saif Ghobash–Banipal Prize for Arabic Literary Translation, is an annual prize awarded to a translator (or translators) for the published English translation of a full-length literary work in the Arabic language. The prize was inaugurated in 2006 by the literary magazine Banipal which promotes the diffusion of contemporary Arabic literature through English translations and the Banipal Trust for Arab Literature. It is administered by the Society of Authors in the UK (which runs a number of similar literary translation prizes), and the prize money is sponsored by Omar Saif Ghobash and his family in memory of Ghobash's late father Saif Ghobash. As of 2009, the prize money amounted to £3000.