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Friday, 21 August 2015

‘Zakat’ brings hope for poor kids who want to study


RAIPUR: Chhattisgarh Zakat Foundation (CZF), is focusing on educational support for families in need and has created corpus fund from the obligatory charity money 'zakat' to extend assistance for the academic needs of children. 

'Zakat' is paid at the rate of 2.5% on assets, on which one year has lapsed. Take the case of Afsha Bano, who lost her father when she was a child. She was all smiles after her hope to accomplish her studies was rekindled by the foundation. Bano is now a student of Pandit Ravi Shankar university

Another recipient Abdul Haque, who is a labourer and resident of Chirmiri, felt reassured by zakat assistance which will help in shaping the destiny of his two sons. "It was tough for me to support my son who is doing engineering and another who is aspiring to become a doctor," he said. 

As many as 149 students received the zakat amount through cheques for their school fee and books at a simple function organised at G N Pandey government school auditorium in Raipur on Tuesday. Syed Akil and Mohammed Tahir of the CZF said that the selection and short-listing process of students was judiciously undertaken to ensure only deserving students remain beneficiaries. About Rs 7 lakh zakat fund was given away as scholarship to 149 students, most of them girls. 



(The Times Of India / 20 August 2015)
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Saudi Arabia’s Almarai to issue 2 bln riyal sukuk

Saudi Arabian dairy producer Almarai will issue a senior sukuk of up to 2 billion riyals ($533 million) to help finance investment plans, it said on Tuesday in a statement published on the bourse website.
The sukuk will be offered to local investors and is subject to market conditions, it said in its statement, adding it had mandated HSBC Saudi Arabia and Samba Capital and Investment Management Co to act as joint lead managers.
(Al-Arabiya News / 18 August 2015)
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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

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