Zakat Practice Principles
NZF Worldwide has launched an ambitious project to develop contemporary, contextual and scholarly-based Zakat Principles Papers unifying Shariah knowledge and industry practice in a codified format. We have a working group of experts developing the Zakat Principles Papers in consultation with global bodies, Shariah scholars and industry practitioners.
Although these Papers are primarily designed for Muslim minority countries and in particular our member organisations, the guidance is applicable for any institution wanting to benefit from these Papers. We will be releasing the Papers gradually and they will be available here.
Zakat Distribution Principles Papers
Dr Mohammed Obaidullah:
“Please accept our best wishes and hearty congratulations for yet another impactful move towards mainstreaming of the global zakat sector.
As we look around we witness a huge gap between the potential of the global zakat sector and what is actually being realized. Much of this has to do with the lack of professionalism in the sector that is often attributable to the absence of a set of standards, guidelines, and rules. Indeed, the need for the standard setting is a long-felt one. Standards provide an ideal balance between the observed divergence in expert “opinions” and the rigidity of national “laws”. The zakat standards being developed by the NZF team, backed by its high-quality in-house expertise will inshaAllah, effectively address this need. We at IBF Net and IIIBF take this opportunity to reiterate our endorsement and to extend our fullest cooperation to this project with a significant long-term contribution to capacity building in the global zakat sector. Best wishes
Mohammed Obaidullah, PhD
Founder, IBF Net – IIIBF”