N.O.R.F Posted March 27, 2008 Gulf News Report Published: March 27, 2008, 00:18 Dubai: The UAE Cabinet has issued a decision obligating local Islamic banks to transfer 2.5 per cent of their annual profits to the Zakat Fund, Gulf News has learnt. The decision is meant to streamline the distribution of Zakat to needy people and charities. Earlier, Islamic banks distributed Zakat to underprivileged people and charitable organisations in the UAE on their own. However, they will no longer be allowed to distribute Zakat by themselves. Zakat, the third pillar of Islam, is an amount of money that every adult mentally stable and financially able Muslim has to pay to support the poor and the needy. Quote Share this post Link to post Share on other sites
Jacaylbaro Posted March 27, 2008 This is another act under the "war on terrorism" category. They want to control even the Zakat so that certain organizations/groups might not get the benefit when it is put under the government. It means the government will give this Zakat to whoever they want. Quote Share this post Link to post Share on other sites
N.O.R.F Posted March 27, 2008 What is wrong with that? Quote Share this post Link to post Share on other sites
Jacaylbaro Posted March 27, 2008 Nothing ,,,, i'm just questioning about the intensions behind the decision. Quote Share this post Link to post Share on other sites
Koora-Tuunshe Posted March 28, 2008 Good decision by the Prosperous and Progressive UAE. and to show our Islamic charity. Quote Share this post Link to post Share on other sites
