“The Zakat fund can reduce poverty”
FE REPORT |
March 25, 2022 08:41:02
Raising Zakat funds through dedicated organizations could go a long way in eradicating poverty and creating new entrepreneurs in the country, speakers said during a broadcast on Thursday.
They also said that the proper use of the fund and its distribution among the right beneficiaries in a structured manner can also help the country achieve its various socio-economic development goals.
They expressed their views at a seminar – “Institutional Zakat Management” – held on the first day of the two-day 10th Zakat Fair 2022, organized by the Zakat Management Center (CZM), a non-profit organization, at a city hall.
Institute of Hazrat Mohammad (SAW) President Lt Gen (Retd) M Noor Uddin Khan attended the seminar as the chief guest, while CZM President Niaz Rahim chaired the session. CZM Chief Executive Officer (CEO), Mohammad Ayub Miah, delivered the keynote address.
Islamic scholars Dr Mohammad Manzur-e-Elahi and Jubair Hasan, and University of Orleans, USA professor Kabir Hasan attended the seminar, while the Executive Secretary of the Global Zakat Forum and of the Waqf, Irfan Syauqi Beik, spoke virtually.
In his speech, the president of CZM said that the non-profit organization has a long history of raising funds for all categories of beneficiaries – as required by Islam.
“Various programs, undertaken by the CZM, contribute to ensuring the development of human resources through skills development, education and health.”
Sharing the success stories of CZM, Mr. Rahim also said that through its entrepreneurship development program, many grantees have gotten rid of their poverty within three to five years of receiving funding.
Zakat is one of the five pillars of Islamic belief that compels a capable individual to disburse a fixed portion of their excess wealth among designated beneficiaries during each lunar year.
According to the introductory presentation, there is a clear indication to mobilize the Zakat fund through an organization, so that its best use can be ensured.
Zakat involves huge management issues, so it requires institutionalization of the process, he added.
The CZM mobilizes the Zakat fund – donated by different entities – through a comprehensive organizational structure in light of the Quran and Hadith as well as in compliance with state rules and regulations.
The Zakat Fair includes a set of discussion programs and other activities to raise awareness about Zakat. The fair is to hold a Zakat-related seminar and panel discussion today (Friday).