Just found out earlier today that a group of specialists who were present at the World Congress of Philosophy in Seoul in 2008 established this society. The president is Ghulam-Reza Aavani who heads the Iranian Institute of Philosophy in Tehran. There will be a brief meeting here during this conference to discuss future events including a week long meeting/round table/workshop to be held in Beirut in May 2011.
The ISIP has a journal called Philosophica Islamica. The first issue has just come out - general editor is Aavani and the editor Yasien Mohamed. I am on the editorial board along with some of usual suspects - Ghulam-Husain Ibrahimi Dinani (Tehran U), Seyyed Hossein Nasr, Hans Daiber (Frankfurt), Osman Bakar (U of Malaya), Alparslan Acikgenc (Fatih U), William Chittick (Stony Brook) etc. Contact - firstname.lastname@example.org