The Department of Zakat Fund at the Ministry of Awqaf and Islamic Affairs has started receiving the budgets of companies operating in Qatar for the past fiscal year. It receives annually more than 150 budgets for companies operating in the country to calculate its Zakat.
The Director of Zakat Fund Department at the Ministry of Endowments (Awqaf) and Islamic Affairs, Jassem bin Mohamed Al Kubaisi, said that the Zakat Fund is the official zakat institution in the country that includes a group of qualified legal and accounting professionals. This service is provided free of charge to all companies and individuals to calculate their Zakat.
The Fund completes the calculation of zakat within two or three days from the date it receives the budgets. The fund receives annually more than 150 budgets for companies operating in the state to calculates their zakat. Afterward, the companies are addressed with an official letter informing them of the value of zakat on the company and the percentages of zakat on the shares listed on Qatar Stock Exchange. The Fund was also able to train about (1500) accountants, auditors and financial managers from hundreds of companies and national financial institutions on Corporate Zakat Accounting work through 20 courses organized by the Fund.
The Fund has been organising the course annually with the participation of more than 70 participants in each session. They were given certificates of this skill that students of accounting colleges usually do not learn in their universities, Al Kubaisi noted.
The head of the Zakat Services Division of the Zakat Fund Mohamed Jaber Al Baridi said that the Zakat Fund is constantly opening its doors to the companies and financial institutions and institutions concerned with the third pillar of Islam to learn the skill of calculating Zakat of companies under the hand of specialists in the legal and accounting aspects of the fund who have been qualified in the legal and accounting sciences to train and develop the skills of financial people in this field for free.
In addition, the Fund organises the Zakat Fiqh Course for the general public from non-accountants to teach them how to calculate Zakat for individual funds, shares and others for free, and approximately 130 participants participate annually, Al Baridi added.
