The Islamic Solidarity Fund was established by virtue of a resolution issued by the Second Islamic Summit Conference held in Lahore, Islamic Republic of Pakistan, in February 1394H (1974). The Statute of the Islamic Solidarity Fund was approved during the Fifth Islamic Conference of Foreign Ministers held in Kuala Lumpur, Malaysia, in the month of Jumada al-Tani in 1394 corresponding to July 1974. The Thirty-fourth Session of the Ministers of Foreign Affairs, held in Islamabad, Pakistan, in 2007, approved the amendment of certain articles of the Statute by resolution No. 7/34-D. In order to achieve these amendments, the Permanent Council of IFAD adopted, at its first special session in November 2007, the Bylaws, to be implemented at the beginning of January 2008.
The first independent budget for the Fund was approved by the Standing Finance Committee at its 36 th Session in December 2007. The basic vision was to promote the intellectual and moral level of the Islamic peoples in the world and provide material assistance according to the possibilities available to Muslim minorities and Islamic communities to raise their religious, social and cultural levels. The second summit was held in Lahore.
The objectives of the Islamic Solidarity Fund are to achieve all that will raise the level of Muslims in the world and to preserve their faith, solidarity and jihad in all fields, especially the following areas:
1- To support the steadfastness and struggle of the Palestinian people.
2 – Mitigating the impact of the crises, tribulations, natural disasters and social conditions facing the country and Islamic societies and directing the necessary material assistance.
3- Organizing the granting of aid and material aid to the countries, minorities and Islamic communities in order to raise their religious, cultural and social level and contribute to the construction of mosques, hospitals and schools in need.
4- Organizing the propagation of Islamic da’wa and its message, the teachings of Islam and its ideals, and supporting the Islamic centers inside and outside Islamic countries for the good of Islamic societies and spreading Islamic thought.
5. Encouraging scientific and technical research and the establishment and financing of Islamic universities, in response to the needs of the modern world, where required, and supporting existing universities.
6. Supporting and organizing the activities of the Muslim youth spiritually, socially and sportily.
7. Organizing seminars that include experts and experts in the fields of legislation, regulation, administration, economy
, culture and science, in which the Islamic world needs to crystallize Islamic thought.
8. Implementation of all projects approved by the Organization of Islamic Cooperation, and the implementation of the Islamic Solidarity Fund.