IFIIE came into being in 2005 through the efforts of Adalberta Mazzini Bernardini, who has a Doctorate in Early Islam, and her husband, Armando Bernardini, former Vice President of Bristol Myers Squibb in Europe. Adalberta continued to deepen her knowledge of Oriental Studies in various academic institutions, while following her husband to the United States, Switzerland, Saudi Arabia, Belgium and Germany. After a lifelong experience of different cultures across the world, she and her husband decided to dedicate their time, resources and energies to the creation of this Foundation.

IFIIE has no political affiliation, nor is it an academic institution. It is an independent entity that seeks – through the generosity of private donations – to promote academic research and education around interreligious and intercultural dialogue. To this end, it grants fellowships to individuals belonging mainly to Judaism, Christianity and Islam who demonstrate an authentic interest in deepening their knowledge and understanding of others' religious beliefs. In this manner, IFIIE strives to promote an awareness of the common values lying behind diversity.

IFIIE is non-denominational both in scope and constitution. Its Advisory Board is
constituted by professionals and researchers belonging to various religions and cultures. Their role is to provide guidance and support in several matters including curricula implementation, the selection and evaluation of applicants, as well as the promotion of academic symposia.

IFIIE is active worldwide, with its headquarters in Rome.