International Zakat Organization
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The International Zakat Organization (IZO) is a Muslim zakat charity. Its aim is to work in the Islamic community among the 56 member states of the Organisation of the Islamic Conference, and foster cooperation in economic, social, cultural, and other areas.
History
The IZO was founded in late 2008 with the help and cooperation from the Chairman of the BMB Group Ltd, a holding company that represents members of the Brunei Royal Family. In cooperation with the BMB Group, the IZO, through the Organization of the Islamic Conference launched the Global Zakat and Charity FundTemplate:Http://blog.finetik.com/2009/02/24/bmb-group-to-partner-with-international-zakat-organization-to-establish-and-co-manage-a-global-zakat-charity-fund/</ref> . The fund will manage over 3 billion dollars, which they hope to raise by 2020. [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 Highness Khaled 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 Muslims of Saudi Arabia.[citation needed]
Key executives
Rayo Salahadin Withanage in the Vice Chairman of the joint venture and Khaled bin Talal bin Abdul Aziz Al Saud is the Chairman. The CEO is Dato Mohammad Mat Hassan bin Esa, and the board members include Rayo Salahadin Withanage, Dr. Humayon Dar and Dr. Ahmad Zahid Hamidi.
Charity donations granted
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- Low income housing projects in Saudi Arabia
- Low income housing in Malaysia
- Roads and agricultual farms created in Malaysia
- 6 educaional schools constructed and financially supported in low income areas of Malaysia.
References
- ^ "The BMB Group wins coveted mandate to manage Global Zakat and Charity Fund for OIC". AltAssets. 2009-03-01. Retrieved 2010-11-04.