Riyadh, Kingdom of Saudi Arabia – In a significant step forward for global refugee relief efforts, the Islamic Development Bank (IsDB), acting as the trustee for the Global Islamic Fund for Refugees (GIFR), signed a Donor Contribution Memorandum (DCM) with King Salman Humanitarian Aid and Relief Centre (KSrelief) on the sidelines of the “Philanthropy Forum” held during the IsDB Group’s Annual Meetings.

H.E. Dr. Muhammad Al Jasser, IsDB President, and H.E. Dr. Abdullah Al Rabeeah, KSrelief Supervisor General, signed the DCM, marking a US$10 million cash contribution from KSrelief to the Waqf Account of the GIFR.

The collaboration through this DCM builds upon the ongoing efforts of the Islamic Solidarity Fund for Development (ISFD) to mobilize additional resources for the GIFR. The initiative has already secured US$100 million from the Islamic Solidarity Fund for Development and the United Nations High Commissioner for Refugees (UNHCR) (US$50 million each).

H.E. Dr. Muhammad Al Jasser, President of the Islamic Development Bank, expressed his deepest gratitude for KSrelief’s contribution. He emphasized, "This remarkable support boosts our commitment to address the increasing needs of refugees and displaced persons, particularly within the Organization of Islamic Cooperation member states. The GIFR, with its pioneering Shariah-compliant structure, serves as a critical instrument for delivering sustainable funding and humanitarian assistance to those most severely impacted by conflict and displacement. I would like to urge the GIFR team to build on this momentum and continue mobilizing the necessary resources to reach the target of US$500 million. Resource mobilization will ensure a positive stream of funding that would be directed to the programs and interventions aimed at impacting the lives of forcibly displaced persons."

H.E. Dr. Abdullah Al Rabeeah, Supervisor General of King Salman Humanitarian Aid and Relief Centre (KSrelief), reaffirmed the centre’s dedication to supporting vulnerable communities worldwide, with refugees being an important focus. He stated, "We are confident that the GIFR's innovative financing mechanism has excellent potential for providing long-term support to refugees and the communities hosting them. Our contribution today exemplifies the unwavering commitment of the Kingdom of Saudi Arabia to global humanitarian action and our solidarity with refugees and displaced populations."

About GIFR:

Launched in 2022 by the Islamic Solidarity Fund for Development (ISFD) and the United Nations High Commissioner for Refugees (UNHCR), the GIFR represents a first-of-its-kind Shariah-compliant financing mechanism to support programs serving the refugees and host communities in Organization of Islamic Cooperation’s member countries. It comprises of Waqf and Non-Waqf modalities, enabling contributions from a wide range of donors and benefactors. Contributions are invested according to Islamic Finance principles and Shariah guidelines, with proceeds used to support critical humanitarian efforts for refugees, including access to education, water, sanitation, and shelter.