In this paper, the behavior of two collinear interface cracks between two dissimilar functionally graded piezoelectric/piezomagnetic material layers subjected to an anti-plane shear loading is investigated. To make the analysis tractable, it is assumed that the material properties vary exponentially with coordinate vertical to the crack. By using the Fourier transform, the problem can be solved with the help of a pair of triple integral equations in which the unknown variable is the jump of the displacement across the crack surfaces. These equations are solved using the Schmidt method. The normalized stress, the electrical displacement and the magnetic flux intensity factors are determined for different geometric for the permeable electric boundary conditions. The relations among the electric filed, the magnetic flux field and the dynamic stress field near the crack tips can be obtained. Numerical examples are provided to show the effect of the functionally graded parameter and the thickness of the strip upon the stress, the electric displacement and the magnetic flux intensity factors of the crack.