The two-day Zakat Fair 2024 commenced at Dhaka’s Aloki Convention Centre, urging the affluent to contribute through zakat for poverty eradication.
Eminent economist and former advisor to the caretaker government, Professor Dr. Hossain Zillur Rahman, highlighted zakat as an ethics-based instrument for transforming financial inclusion into the financial empowerment of the poor during the inaugural seminar, “CZM’s Zakat-based Programs: A pioneering Innovation for Poverty Alleviation.”
Organized by the Centre for Zakat Management (CZM) under the theme ‘Making a Difference with Zakat,’ the event aimed to explore the potential of Zakat in addressing global financial inclusion and empowering impoverished individuals.
Professor Hossain Zillur Rahman emphasized the need for cautious management of zakat to lower costs, enabling the funds to serve a larger population.
The inaugural function, chaired by Md Shahjahan Mia, Prof Emeritus of the University of Southern Queensland, included addresses from former Chief Election Commissioner Justice Abdur Rouf, former Executive Director of Bangladesh Bank Abdul Awal Sarker, Dr. Fazle Rabbi Sadek Ahmed (Deputy Managing Director of Palli Karma-Sahayak Foundation), former government secretary Arastu Khan, and Islamic scholar Prof Mokhter Ahmed.
Several leading business houses, including Rahimafrooz, Khadim Ceramics, Kohinoor Chemicals, Rahim Steel, South Bridge, and Hajj Finance Company Limited, sponsored the Zakat Fair, facilitating discussions on business zakat calculation methods.
Justice Abdur Rouf emphasized that zakat in Islam aims to prevent wealth accumulation in the hands of a few and promote equitable distribution.
CZM CEO Dr. Mohammad Ayub Mia revealed that the organization has assisted 15 lakh people in the last 15 years, with 12,000 individuals currently receiving regular food support.
Abdul Awal Sarker highlighted that proper zakat collection could generate an annual fund of Tk 80,000 crore, sufficient for poverty alleviation in the country.
The Zakat Fair, open from 9 am to 7 pm, features stalls from various financial and zakat institutions, including a Zakat consultation desk and stalls with Islamic books.
The event will host six sessions, including a seminar on the ‘Importance of Zakat, Ushar, and Waqf in Human Welfare’ for Khatibs and Imams and a round table session on the ‘Role of Islamic Social Finance in Reducing Inequality.’ The latter, chaired by former caretaker government advisor Abdul Mueed Chowdhury, will have Prof. Wahiduddin Mahmud, Chairman of the Economic Research Group, as the chief guest. Eminent personalities like former Chief Election Commissioner Justice Muhammad Abdur Rauf and former Minister M Nuruddin Khan are expected to attend as special guests and speakers.