Rahim Al-Hussaini was named Wednesday as the new Aga Khan, spiritual leader of the world’s millions of Ismaili Muslims, following the death of his father.

The global Ismaili Muslim community witnessed a historic and deeply significant moment today as Shah Rahim Al-Hussaini, Aga Khan V, formally ascended to the office of Imamat as the 50th hereditary Imam of the Ismaili Muslims.

Rahim Al-Hussaini was named Wednesday as the new Aga Khan, spiritual leader of the world's millions of Ismaili Muslims. The 53-year-old succeeds his father, who died on Tuesday.

Prince Karim, 88, was given the title of “His Highness” by Queen Elizabeth in July 1957, two weeks after his grandfather, the Aga Khan III, unexpectedly made him heir to the family’s 1,300-year dynasty as leader of the Ismaili Muslim sect.

Prince Karim, Aga Khan IV, was laid to rest in a private ceremony in Aswan, Egypt. His son, Rahim Al-Hussaini, has been named Aga Khan V, continuing the Ismaili Muslim spiritual leadership. World leaders attended a service in Lisbon.

Rahim Al-Hussaini was named Wednesday as the new Aga Khan, spiritual leader of the world’s millions of Ismaili Muslims, following the death of his father. The 53-year-old was designated as the Aga Khan V,