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UNHCR and IsDB activate the Global Islamic Fund for Refugees


UNHCR and IsDB activate the Global Islamic Fund for Refugees

10 March 2023

RIYADH - UNHCR, the UN Refugee Agency, and the Islamic Development Bank (IsDB) have announced the activation of the Global Islamic Fund for Refugees (GIFR).

The fund was initiated during a signing ceremony this week on the sidelines of the Riyadh International Humanitarian Forum. A framework agreement was also signed focusing on enhancing cooperation in humanitarian aid between both sides.

The signing occurred during a meeting between Filippo Grandi, UN High Commissioner for Refugees, and Dr. Muhammad Al Jasser, Chairman of the IsDB Group.

Grandi and Al Jasser, emphasized GIFR’s important role and called on partners, organizations and governments to help the fund reach its target of US$ 500 million, enabling it to achieve its humanitarian goals of securing sustained funding that ensures a timely response to humanitarian crises.

The framework agreement will enable IsDB and UNHCR to cooperate on assisting forcibly displaced people and their host communities, and to build their resilience through livelihood opportunities, while ensuring access to basic services like education, shelter, healthcare, water and sanitation, and green energy.

"The GIFR is an excellent example of how innovative humanitarian and development partnerships can help find comprehensive, sustainable, and systematic solutions to the challenges associated with displacement today,” Grandi said. “With more than 103 million people forced from their homes, this work is important and urgent. The Islamic Development Bank is one of our major partners, and we appreciate its efforts to support refugees, displaced people, and their host communities, especially as their humanitarian and development needs continue to grow”.

Launched in 2022, the GIFR is an innovative Shariah-compliant financing tool comprising a Waqf and a Non-Waqf Fund, each accepting contributions from interested donors and benefactors. Contributions to the GIFR will be invested in accordance with the principles of Islamic Finance and guidelines of Shariah, and proceeds will be used to support humanitarian efforts.

For more information, please contact:

  • Khaled Kabbara, Communications Officer- GCC Countries, +971 50 641 0868, [email protected]