08.07.2015 / For immediate release
Al Rayan Bank announces charity partners for 2015
7 July 2015 –Al Rayan Bank, formerly Islamic Bank of Britain (IBB), has announced its two official charity partners for 2015. The Bank has named Human Appeal as its Overseas Charity Partner and the National Zakat Foundation (NZF) as its Zakat* Education Partner.
This is the first year that Al Rayan Bank has partnered with Human Appeal, one of the UK’s fastest growing charities and the Bank is supporting the charity by giving it a platform to communicate with its customers through mailings, branches and online. Othman Moqbel, CEO of Human Appeal, said, “We are delighted that Al Rayan Bank has chosen Human Appeal as its official Overseas Charity Partner for the year. Human Appeal is about more than just words, the work we do saves lives. From providing clean water sanitation systems to responding to humanitarian disasters, this partnership will enable us to help even more people around the world.”
Sultan Choudhury, CEO, Al Rayan Bank, said: “We are privileged to be working with Human Appeal and the National Zakat Foundation – two outstanding British charities. Charitable donations and Zakat payments enable Muslims to physically and spiritually purifytheir wealthwhich exceeds what they need to provide the essentials to themselves and their families. By working with charitable organisations such as Human Appeal and NZF, we believe that we can not only foster a greater understanding of Zakat but also deliver real and immediate help to those less fortunate than ourselves – both at home and abroad.”
Zakat shares a common purpose with the principles of Islamic finance, which is to provide an ethical and socially responsible financial system for the Muslim community. Islamic finance achieves this with partnership-based financial principles which operate without interest (Riba) and speculation. Zakat achieves this by empowering communities through the redistribution of wealth.
*Zakat is one of the five pillars of Islam which mandates upon all Muslims to annually pay a fixed portion of their wealth, above a minimum threshold, to those in need. The purpose of Zakat is to purify the wealth held by individuals to attain socio-economic justice.
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