Zakat assessment (illustrative)
Payers estimate zakat with the fund's settings; the tool states that it is illustrative and not a fatwa.
Social
Waqf and zakat institutions
Donors and beneficiaries both need to see where each amount went.
Zakat funds collect and distribute obligatory alms; waqf institutions manage endowed assets and spend their income on stated purposes. Both answer to donors, beneficiaries and often a public authority. IslamicOpenFinance™ records assessment, collection, eligibility and disbursement, and keeps waqf income separate from the endowed asset.
Financial products
What you build on IslamicOpenFinance™
Collection
Payments arrive through cards, transfers and wallets, each with a receipt.
Eligibility and disbursement
Beneficiaries are assessed against the fund's criteria and paid, with every step recorded.
Waqf asset register
Endowed assets are recorded with their stated purpose and kept apart from their income.
Reporting
Donors and authorities receive reports of collections and disbursements with evidence.
Value chain
The actors in this chain
IslamicOpenFinance™ connects them with one contract model, one policy and one evidence trail.
Zakat payerZakat fundWaqf trustee (mutawalli)BeneficiariesDonorsPublic authority
Typical flow
A typical flow, step by step
- Assessment
- Nisab check
- Hawl date
- Payment
- Eligibility
- Disbursement
- Report
Live demo
See it in the terminal
Aisha's illustrative zakat estimate with Rifd Zakat Fund (demo): nisab check, hawl date in both calendars, and the disclaimer. Demo data
DemoAll institutions, people, amounts and events are fictional demonstration data. Nothing here is a Shariah ruling, an offer or advice; approving a product is for each institution's own Shariah board and regulator.