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Archive for March 2012

  • In: Zakat Issues
  • Comments Off on ZAKAT: 126.1 million approved for scholarships

ZAKAT: The Provincial Zakat Council of Punjab gave approval to the release of Rs 126.1 Million under the head of educational scholarships (General) and religious scholarships in its 137th meeting held today under the chairmanship of Secretary Zakat & Ushr Imran Nasir Khan.

The Secretary Zakat & Ushr while addressing the meeting said that approval has been given to the provision of a sum of Rs. 83.3 Million for 63292 deserving boys and girls students from 1412 educational institutions.

Similarly, approval has been granted for the release of a sum of Rs. 42.7 Million for the students of 177 seminaries in 15 districts of the province which will benefit 17347 students. The meeting also granted approval to the release of Rs.
1.8 Million for the launching of new classes in Vocational Training Institute Jhang.

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  • In: Zakat Issues
  • Comments Off on NON-PAYMENT OF ZAKAT: Government Responsibly, Obligation and Regulation

The Court of Grievances will be the final decision maker in any dispute between the Zakat payer and the Zakat Department over matters of assessment involving this Islamic obligation.

The new Zakat regulation in Saudi Arabia has reached its final stage prior to implementation, it has been prepared after studies of expert committees and on the basis of relevant fatwas, ministerial decisions and royal decrees according to  Ibrahim Al-Mufleh, director general of the department.

The new regulation also empowers the department to summon any defaulter of Zakat payment in addition to banning a defaulter from traveling outside the Kingdom and other consequences. 

  • In: Zakat Issues
  • Comments Off on Zakat Assessment and Reporting by Companies in Saudi Arabia

 

In The kingdom of Saudi Arabia, the muslims whose annual earnings exceed a level called Nisab are legally obligated to pay 2.5 percent of their earnings to the government as Zakat.

Likewise all Saudi companies of all types and companies owned by nationals of the Gulf Cooperation Council (GCC) that conduct business in Saudi Arabia must pay Zakat to the Department of Zakat and Income Tax (DZIT) at the end of the fiscal year.

Companies must also generate and submit a set of 14 Zakat reports along with their balance sheet and profit-and-loss statement to DZIT within a month of year-end.

These required Zakat reports are as follows;

  • Zakat main report
  • Revenue for main activity report
  • Revenue from other activity report
  • Direct expenses report
  • Subcontractor report
  • Depreciations report
  • Consultation fees report
  • Provisions and reservations report
  • Investments report
  • Pre-setting up expenses balance report
  • Other expenses report
  • Other adjustments report
  • Other additions report
  • Other deductions report

 

The Al-Habibiyyah Zakat Foundation of the Al-Habibiyah Islamic Society in Abuja, Nigeria has distributed cash and other valuables materials worth millions of naira to 18 indigents in Abuja.

Director and Imam of the society, Sheikh Fuad Adeyemi, said the disbursement was the fourth of its programme since April 2010. The second was in November 2010 and the third in July 2011.

The foundation has a seven-member Board of Trustees  with Malam Musa Dangoggo Aliyu as the Chairman and Hajiya Rakiya Gambo-Ilyasu, Mansurah Umaru-Baba, Ustaz Aliyu Abdulsalam Al-Awwal and Alhaji Abdulganiyyu Owolabi Abdulrasaq as members. The board was inaugurated by the former Chief Justice of Nigeria, Justice Muhammad Lawal Uwais.

Adeyemi while praying for blessing on what was disbursed to beneficiaries, also said the fund disbursed were given in trust to the foundation and that beneficiaries need not to lobby or see anyone to benefit from it.The items disbursed at the occasion included, deep freezers, pop-corn machines, sewing machines, and cash totaling N1.5 million.

The Amirah of the foundation, Hajiya Rakiya Gambo-Ilyasu, charged the recipients of the Zakat to make judicious use of what was given to them. She added that: “We are expecting you to be among those that will be giving zakat to others soon, so make the best use of what is given to you.”


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