KUALA LUMPUR – The Sultan of Perak, Sultan Nazrin Shah will be attending the World Humanitarian Summit (WHS), in Istanbul, Turkey beginning tomorrow till May 24.
This was disclosed in a statement by Istana Cempaka Sari in Ipoh, sent to Bernama here today.
In an attached statement of the WHS, it said that the Islamic Social Finance For Humanitarian Action (ISFHA) is expected to be one of the emerging outcomes in global response to crises from the World Humanitarian Summit.
The statement said that Sultan Nazrin, who is the Co-Chair of the United Nations High-Level Panel for Humanitarian Financing, has emphasised that: “The Muslim world can be more generous and has the financial tools to meet the humanitarian funding shortfall.
For the first time since the formation of the United Nations, UN Secretary-General Ban Ki-moon has convened a Summit where world leaders will unite around shared humanity and take global action to end the suffering of millions of women, men and children affected by conflicts and disasters.
The statement said that in 2016, more than 125 million women, men and children across the world are in need of humanitarian assistance.
The statement said ISFHA will be an initiative that acknowledges the vital contribution of Islamic social financing mechanisms to aid humanity and explore the role of new and emerging donors from faith-based funding.
It said the expected outcomes at the WHS in Istanbul are the inauguration of humanitarian sukuk (social impact bond) as well as waqf (endowment fund) for humanitarian action.
Besides that, it will also see the establishment of an independent and autonomous body for ISFHA and launching of an international standards setting body for Islamic Social Financing Instrument.
“Also the crowdfunding platform solutions to connect the humanitarian community with waqf (endowment fund) and zakat (almsgiving) givers will be achieved,” it said. – BERNAMA