New Islamic fund to aid vulnerable communities globally
Riyadh: The International Organization for Migration launched the Islamic Philanthropy Fund, a new initiative to support the world's most vulnerable communities, at the UN office in Riyadh.
Amid escalating crises and rising displacement, the organization is developing innovative ways to deliver life-saving aid to more than 75 million people uprooted by conflict, disasters and insecurity.
The event was attended by high-level representatives from the Organization of Islamic Cooperation, the Islamic Development Bank, diplomats, UN agencies, private sector stakeholders and leading Islamic philanthropy organizations.
Amy Pope, the organization's director general, said: 'With today's complex crises displacing record numbers and causing immense suffering, it is critical to harness Islamic charity to help alleviate hardship, empower communities and protect human dignity.'
She added that the fund serves as a 'trusted platform for Muslims worldwide to maximize their contributions' impact.'
In its inaugural year, the fund is prioritizing Sudan's emergency response, delivering cash to displaced families, those stranded at borders and communities in urgent need.
A newly established advisory body ensures transparency, integrity and effective impact.
During the launch, the IOM signed memorandums of understanding with the Organization of Islamic Cooperation and the International Islamic Fiqh Academy to enhance the fund's efficiency and reach.
Othman Belbeisi, IOM regional director for the Middle East and North Africa, told Arab News: 'The number of internally displaced persons worldwide now exceeds 79 million — double the figure from five years ago.'
Belbeisi highlighted the need to diversify funding sources to address growing humanitarian challenges.
'Islamic finance is a crucial resource for supporting vulnerable communities and addressing urgent needs,' he said, adding that it will bolster the organization's projects across multiple countries by providing sustainable funding.
Tariq Cheema, a member of the fund's advisory board, told Arab News: 'We are in a rapidly evolving world where shifting power dynamics make innovative solutions essential to mitigating human suffering.'
Cheema said that the fund not only empowers local organizations delivering critical aid, but also helps shape future generations.
By investing in skills development, creating job opportunities and supporting diverse work models, the fund can enhance efficiency, reduce costs and strengthen organizations for long-term impact, he added.
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