Bursa Malaysia Zakat Distribution 2020

Bursa Malaysia (“Bursa”) for the Financial Year of 2020 has distributed a total of RM250,125 arising from the Zakat Wakalah returned by Pusat Pungutan Zakat (“PPZ”) to charities selected based on the Zakat Wakalah Distribution Guideline where applicants are to meet the criteria set by PPZ, as well as the eight conditions set to be declared as Asnaf.

Several factors are considered in for Bursa’s Zakat Distribution, among those are:

1. Charity Begins at Home

   The distribution of the Zakat Wakalah funds are encouraged to primarily be directed towards the staff of Bursa Malaysia first and foremost, as to cater the needs of those close to us before providing assistance to others.

2. High Impact

   Furthermore, as to achieve maximal social impact, all forms of distributions are also recommended to be directed towards highly effective causes. Donations and contributions to the beneficiaries, even more so towards organizations/institutions.

3. Alignment with the Sustainable Development Goals (SDG)

Zakat has an underlying philosophy that embodies socially responsible development and as such strongly aligns with numerous SDGs of the United Nations. Of those are ‘No Poverty’ (SDG 1), ‘Zero Hunger’ (SDG 2), ‘Reduced Inequalities’ (SDG 10), all of these are central, part and parcel to the core Islamic principles, or commonly known as the Maqasid al-Shariah.

Among the charities/organizations on the receiving end of Bursa’s Zakat Distribution 2020 are:

1. Islamic Relief Malaysia

   IRM proposed two projects of which are ‘Local Flood Relief’ and ‘Cheer to School’ which aims to alleviate the hardships faced by those affected by the recent floods in Malaysia.

2. Centre 4 Sustainability and Serenity – Universiti Sains Islam Malaysia

   The ‘Inkubator Kebun Pekan’ project is an initiative to instill the notion of Prosumerism (to produce products for one’s own needs) through building a culture of gardening among the Asnafin urban areas such as Kuala Lumpur.

3. Buku Jalanan Chow Kit

   Buku Jalanan Chow Kit aims to empower their students through education and to prove that every children is a good human capital if they were given the proper to equip themselves, to equip children with the right tools and skills set so they can compete healthily and to integrate the marginalized children as valuable members of the society.

4. Amal Valley

   Amal Valley through their ‘Ambulan Komuniti’ project aims to alleviate the hardship of the Asnaf through providing free ambulance services to those in need.