Photo: Camel herders fetching water for their animals during a drought in Baidoa, Somalia, in March 2017. Mustafa Olgun/Shutterstock

Islamic Finance

NZF Worldwide to work with U.N. on zakat mechanism for Somalia


NZF Worldwide (NZF WW), born out of the UK-based National Zakat Foundation, will work with the United Nations to develop a sovereign zakat mechanism in Somalia, according to Azim Kidwai, chairperson of NZF UK and director of NZF Worldwide.

The U.N. via the UNDP has mandated NZF WW to develop the mechanism, according to Kidwai.

NZF  WW will work with local authorities, Islamic scholars and other stakeholders including the central bank of Somalia on how to collect and deploy zakat. The entity will hire a local team as well as work with claimants, scholars, and payees, noted Kidwai.

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tags:

Zakat
Islamic social finance