Islamic Finance

IIFA forms the Zakat board for UNHCR’s Refugee Zakat Fund 


UNHCR, the UN Refugee Agency, announced today a new milestone collaboration between its Refugee Zakat Fund and the International Islamic Fiqh Academy (IIFA), an entity of the Organization of Islamic Cooperation (OIC).

In continuation of their support, IIFA will now serve as UNHCR’s Zakat Board, overseeing the external compliance review of the Refugee Zakat Fund, reinforcing UNHCR’s unwavering commitment to transparency and Sharia compliance.

This agreement builds on the existing five-year partnership between UNHCR and IIFA which was signed in 2021. It aims to enhance support for refugees by providing UNHCR with scholarly guidance and jurisprudential expertise to strengthen its Islamic philanthropy efforts. In 2020, IIFA issued a fatwa authorizing UNHCR to collect and distribute Zakat funds through its Refugee Zakat Fund.

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