Department of Zakat Affairs Issues Bulletin of Zakat Percentages on Shares for 42 Companies

Doha: The Department of Zakat Affairs at the Ministry of Endowments and Islamic Affairs has issued the table of zakat percentages on shares for 42 companies listed on the Qatar Stock Exchange for the past fiscal year. Director of the Zakat Affairs Department Saad Omran Al Kuwari said that the Department is keen to issue this bulletin every year to help shareholders calculate the zakat on the shares they own in these companies to pay it on time. He pointed out that, as the official government body authorized to collect Zakat funds and spend them on its legitimate zakat destination from eligible people inside Qatar, the department also undertakes calculating the Zakat of small and medium private companies not listed on the stock exchange upon their request. Al Kuwari pointed out that the Department has a qualified team of researchers, Sharia experts, and financial accountants specialized in calculating corporate zakat, to issue a bulletin on the percentage of zakat on shares for joint-stock companies, noting that the Department of Zakat Affairs holds an annual specialized course in calculating corporate zakat, presented by one of the most prominent scholars in the zakat calculation. He explained that during this course, finance managers and accountants will be trained to calculate the zakat of the companies in which they work according to legal foundations and standards and a global process approved in the field of calculating corporate zakat. He called on all large, medium and small companies, banks and businessmen to pay the zakat on time. Source: Qatar News Agency