Fannā (Panāh) Khusraw, better known by his laqab of ʿAḍud al-Dawla was an emir of the Buyid dynasty, ruling from 949 to 983, and at his height of power ruling an empire stretching from Makran to Yemen and the shores of the Mediterranean Sea. He is widely regarded as the greatest monarch of the dynasty, and by the end of his reign he was the most powerful ruler in the Middle East.

The Buyid dynasty, also spelled Buwayhid, was a Zaydi and, later, Twelver Shia dynasty of Daylamite origin, which mainly ruled over central and southern Iran and Iraq from 934 to 1062. Coupled with the rise of other Iranian dynasties in the region, the approximate century of Buyid rule represents the period in Iranian history sometimes called the "Iranian Intermezzo".