International Zakat Organization
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New article name is International Zakat Organiztion (IZO). Changing the world one step at a time.
History
The IZO empowers the Islamic community among the member of the 56 OIC states by harboring its cooperation in economic, social, cultural, and other crucial areas. The International Zakat Organization extended its commitment for mutual cooperation and understanding between the 56 member countries and other countries for (Khairul Ummah). The IZO was founded in late 2008 with the help and cooperation from the Chairman of the BMB Group Ltd, a multi-billion hlding company who represents members of the Brunei Royal Family
The idea to establish the International Zakat Organization originated from the religious obligation and strong belief in the Islamic fundamental concept of Zakat, being the third pillar of Islam along with the recognition of its roles and impacts on the social and economic’s life of the global Islamic Ummah. In cooperation with the BMB Group, the IZO, through the Organization of the Islamic Conference launched the World Zakat Fund. The Fund will manage over 3 Bilion Dollars which is expected to be raised over the next 10 Years. [1] In 2010, the World Zakat Foundation set up its first office in Saudi Arabia with His Royal Highness Khaled bin Talal bin Abdul Aziz Al Saud. The saudi arabian chapter of the World Zakat Fund is a 50-50 joint venture between the BMB Group and His Royal HighnessKhaled bin Talal bin Abdul Aziz Al Saud whose father His Royal Highness Talal ibn Abd al-Aziz granted 100% of his annual zakat valued at $100,000,000 to the joint venture fund to build low income housing for the muslim brothers of Saudi Arabia. This tremendous announcement was made November 2010 in all arabic newspapers. Mr. Rayo Salahadin Withanage in the Vice Chairman of the joint venture and Khaled bin Talal bin Abdul Aziz Al Saud is the Chairman.
Key Executives
CEO: Dato Mohammad Mat Hassan bin Esa Member of the Board: Rayo Salahadin Withanage Member of the Board: Dr Humayon Dar Member of the Board: Ahmad Zahid Hamidi Chairman of the Organization of the Islamic Conference
References
- ^ "The BMB Group wins coveted mandate to manage Global Zakat and Charity Fund for OIC". AltAssets. 2009-03-01. Retrieved 2010-11-04.