IsDB, UNICEF to establish global Muslim philanthropy fund

The Islamic Development Bank (IsDB) and UNICEF have signed a communique to announce their intent to develop a Global Muslim Philanthropy Fund for Children. Discussed on the margins of IsDB’s 44th Annual Meeting of Board of Governors, the fund would aim to mobilize Islamic giving, including philanthropic and Zakat resources, towards humanitarian and resilience development […]

The Islamic Development Bank (IsDB) and UNICEF have signed a communique to announce their intent to develop a Global Muslim Philanthropy Fund for Children.

Discussed on the margins of IsDB’s 44th Annual Meeting of Board of Governors, the fund would aim to mobilize Islamic giving, including philanthropic and Zakat resources, towards humanitarian and resilience development programmes that ensure the well-being of children in IsDB member countries.

IsDB and UNICEF are now developing the fund, alongside key partners and potential supporters, in anticipation of a formal launch during the United Nations General Assembly in September 2019 in New York.

IsDB and UNICEF have collaborated since 1976. The two organizations signed a formal Memorandum of Understanding in 1989. This was followed in 2017 by a Strategic Partnership Framework Agreement related to the achievement of the Sustainable Development Goals.

“Leveraging our respective strengths has always been at the heart of our partnership with UNICEF. Now we are set to take our collaboration to new heights through an innovative and timely mechanism that sits at the nexus of Islamic finance and global humanitarian and resilience efforts,” said IsDB President Dr Bandar Hajjar.

“Global humanitarian needs are at critical levels and children are especially vulnerable– they face the highest risk of violence, exploitation, disease and neglect. Establishing a Muslim Philanthropy Fund with IsDB will enable us to provide many more of these children with access to safe water, nutrition, education, health and protection,” UNICEF Deputy Executive Director Charlotte Petri Gornitzka.