New York, USA, 23 September 2022 -  On the sidelines of the 77th U.N. General Assembly in New York, the plight of refugees around the world took center stage with a promising future of solid support during the launch of the joint Global Islamic Fund for Refugees (GIFR) by Islamic Development Bank's poverty alleviation arm, ISFD (the Islamic Solidarity Fund for Development) and UNHCR (United Nations High Commissioner for Refugees). 

At the event, U.N. High Commissioner for Refugees, Filippo Grandi, and Director General of the Islamic Solidarity Fund for Development, Dr. Hiba Ahmed, respectively, announced a contribution of US$50 million as an initial capital investment for the Fund. 

Representing IsDB Group Chairman, H.E. Dr. Muhammad Al Jasser, at the ceremony, the IsDB Vice President Operations, Dr. Mansur Muhtar, reaffirmed the Bank's commitment to partner with the UNHCR through ISFD to address the multi-dimensional aspects of poverty facing refugees and to help secure the best for the refugees as integral parts of IsDB's mandate. 

Reiterating that the target for the program is US$1 billion, Dr. Muhtar stated: "I firmly believe that together we can make a difference. We must renew our commitment to ensure that all refugees receive their basic fundamental rights of access to education, health, water, sanitation, and shelter," Dr. Mansur emphasized. 

ISFD Director General, Dr. Hiba Ahmed also stated: "GIFR is a novel and Shari'ah-compliant financing tool that seeks to avail sustainable financial resources for humanitarian responses to aid the millions of forcibly displaced people around the world." 

The UNHCR Chief, Mr. Grandi, commended the humanitarian partnership with IsDB, stating: "This partnership comes at a time when millions of people are still fleeing their homes because of war, conflict, persecution, and climate change."