Zakat
 

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Zakat

The zakat payable per share has been approved by our Fatwa and Sharia Supervisory Board. The amount of Zakat payable for the financial year ended 31 December 2015 is AED 0.0150 for each share. The Fatwa and Sharia Supervisory Board also urge the shareholders to fulfill the responsibility of paying zakat in order to fulfill the third pillar of Islam. Since the Board of Directors of Mawarid Finance is not authorized to pay Zakat on behalf of the shareholders, the obligation of paying Zakat on the shares of the company falls upon the shareholders themselves.