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SANZAF releases 2015 financial statements

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The South African National Zakah Fund (SANZAF) released their  2015 Audited National Annual Financial Statements onWednesday, which can be viewed on www.sanzaf.org.za. This release is a record for SANZAF as it achieved this within 45 days of the financial year end.

The total funds distributed and expended have increased by 21%, amounting to R112,510 million and zakah distribution increased by 25% totalling R84,196 million. These funds were disbursed through national programmes and regional projects assisting many more beneficiaries on a larger scale.

However, South Africa’s economic instability has also affected the impact of zakah work in the country. There are now more beneficiaries appealing for financial assistance as a result of rising unemployment, poverty and the high cost of living.

“We are very pleased that we could reach much more people,” said SANZAF national deputy chairperson Showkat Mukadam.

While the South African financial climate has affected donors, SANZAF has noticed that through greater zakah awareness, there has been an increase of 11% in total income as a result of the utilisation of different media platforms, with an achievement of R113,110 million for the period of 11 months, compared to 12 months in the previous period.

“We have been running seminars and the even the apps that can be downloaded have in fact resulted in the steady increase in the Zakah income. Our effort in educating the community bore fruit,” said Mukadam.

However, SANZAF’s programme on social upliftment has progressed into a far more developmental one, focused on education and skills. This year alone, SANZAF channelled R17 million into its bursary programme for 1250 tertiary students.

Look out for the summarised audited annual financial statements insert in the August issue of Muslim Views and Al Qalam. Alternatively, visit their website www.sanzaf.org.za for more information.  VOC


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