UAE: New initiative simplifies Zakat calculation for companies

Abu Dhabi: The General Authority of Islamic Affairs, Endowments, and Zakat has launched a corporate Zakat campaign under the slogan "Zakat: The Blessing of My Business."

The campaign aims to raise awareness about the importance of Zakat and provide innovative, convenient solutions to encourage businesses to fulfill their obligations. It offers a fully automated service that enables companies across commercial, industrial, and service sectors to easily and accurately calculate their Zakat through digital solutions.

Dr. Omar Habtoor Al Darei, Chairman of the authority, emphasised that the campaign aligns with the country’s strategy to serve the community and reflects the leadership’s vision of fostering innovation and excellence in public services.

He explained that the initiative seeks to enhance corporate awareness of Zakat, support businesses in accurate Zakat calculations, and introduce advanced solutions through the Emirates Global Application for Corporate Zakat Calculations – Fourth Generation—the first of its kind for corporate Zakat calculation.

The application is available on the Zakat Fund website (www.zakatfund.ae) and the Zakat mobile app. Officially registered as intellectual property with the Ministry of Economy, the program offers an innovative service for corporate Zakat calculation, fully compliant with accounting and Sharia principles. It is also aligned with corporate financial statements, ensuring accuracy and adherence to financial accounting standards.

Dr. Al Darei highlighted the authority’s strategic efforts to promote the Z-Companies service, designed for business owners, investors, chief accountants, financial and executive managers, Zakat institutions, audit firms, and consultancy offices.

The Z-Companies service enables businesses to calculate their Zakat using an advanced technical system that aligns with financial statement requirements.

Dr. Al Darei reaffirmed the authority’s commitment to Zakat, aiming to foster a culture of giving, promote sustainability, and enhance public awareness through media platforms and communication channels. He also urged business owners to fulfill their Zakat obligations as an expression of gratitude for their wealth and a commitment to social responsibility.