The importance of Zakat in Corporate Social Responsibility (CSR)
In Corporate Social Responsibility (CSR), integrating Zakat is pivotal. It stands as a foundational pillar among the Five Pillars of Islam. By integrating Zakat into CSR initiatives, businesses align their philanthropic endeavors with Islamic values, fostering stronger connections with Muslim communities and showcasing a commitment to ethical practices.
Zakat plays a crucial role in addressing societal needs such as poverty alleviation, healthcare, education, and community development. Integrating Zakat fulfills religious obligations and boosts brand reputation, showcasing businesses as responsible corporate citizens dedicated to positive change.
Understanding the Zakat and its importance
Zakat is one of the Five main Pillars of Islam. It's not merely a financial obligation but a profound act of purification and solidarity with the less fortunate. Zakat represents a fundamental duty for Muslims, serving as a means of purification and social justice.
How do you calculate Zakat?
First of all, you must check your belongings and money. When you have a certain amount, called Nisab, you have to give Zakat. Nisab equals the value of 87.48 grams of gold or 612.36 grams of silver. You should give 2.5% or 1/40 of all you own. To know how much to give, you can use online Zakat calculators. It helps you give the right amount and fulfill your duty to help others in need.
What are the rules of Zakat?
To qualify for zakat each year, individuals must have a certain amount of wealth, which is called nisab. This is either 87.48 grams of gold or 612.36 grams of silver. If someone has more wealth than this, they must give 2.5% of their total wealth as zakat. Those who don't have this much wealth don't have to pay zakat.
Zakat Calculator in Bangladesh 2024
Find the new Zakat Calculator for 2024 in Bangladesh. Quickly figure out your Zakat duties with accuracy and ease. Make your charitable donations simpler now!
| Gold Type | Per Gram Price | Per Vori Price | -20% Per Gram Price | -20% Per Vori Price | Zakat Per Gram | Zakat Per Vori |
|---|---|---|---|---|---|---|
| 22/22 CARAT | ৳ 9680 | ৳ 112908 | ৳ 7744 | ৳ 90326 | ৳ 194 | ৳ 2258 |
| 21/21 CARAT | ৳ 9240 | ৳ 107775 | ৳ 7392 | ৳ 86220 | ৳ 185 | ৳ 2156 |
| 18/18 CARAT | ৳ 7920 | ৳ 92379 | ৳ 6336 | ৳ 73903 | ৳ 158 | ৳ 1848 |
| Traditional Method | ৳ 6600 | ৳ 76982 | ৳ 5280 | ৳ 61586 | ৳ 132 | ৳ 1540 |
Integration into CSR | Bridging faith and philanthropy
Incorporating Zakat into CSR initiatives allows businesses to align their philanthropic efforts with Islamic values, thereby fostering a deeper connection with Muslim communities and demonstrating a commitment to ethical business practices. Zakat is an important duty in Islam, and when businesses use it for charity, it makes them look good and trustworthy.
Societal impact of Zakat | Beyond charity
The distribution of Zakat contributes significantly to poverty alleviation, healthcare, education, and community development. By channeling Zakat funds effectively, businesses can make a tangible difference in the lives of those in need, thereby enhancing societal well-being.
Final Speech
In conclusion, As a CSR partner, Swadesh Properties Limited recognizes the profound impact of Zakat as part of our Corporate Social Responsibility (CSR) initiatives. Through Zakat, we contribute to addressing pressing social issues such as poverty, healthcare, education, and community development. Together, let's continue to embrace Zakat as a cornerstone of our CSR efforts, making a lasting impact on society and leaving a legacy of compassion and generosity.
