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Princess Zahra was born September 18, 1970 in Geneva, Switzerland. She is the first-born child and only daughter of His Highness Aga Khan IV. She attended Institut Le Rosey in Switzerland and later graduated from Harvard University.

She has been actively involved in the work and governance of the Aga Khan Development Network (AKDN) for more than thirty years. In 2025, she was appointed Pro-Chancellor of the Aga Khan University after serving as a Trustee since 2003. She is a Trustee of the University of Central Asia and sits on the boards of the Aga Khan Foundation, the Aga Khan Trust for Culture, and the Global Center for Pluralism, an institution established by her late father in partnership with the Government of Canada.