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Assignment of Income From Business

The annual report summarizes the organization's financial statements and performance for the fiscal year ending June 30, 2022. It includes details such as the balance sheet, income statement, cash flow statement, and notes on accounting policies. The report shows the organization maintained strong financial viability and sustainability over the course of the year.

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Zafar Iqbal
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39 views17 pages

Assignment of Income From Business

The annual report summarizes the organization's financial statements and performance for the fiscal year ending June 30, 2022. It includes details such as the balance sheet, income statement, cash flow statement, and notes on accounting policies. The report shows the organization maintained strong financial viability and sustainability over the course of the year.

Uploaded by

Zafar Iqbal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ANNUAL REPORT

2022
Financial
Statements
For the year ended
June 30, 2022

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Date: 10th August, 2022

SHARI’AH PRONOUNCEMENT FOR PAYING ZAKAT TO


KARWAN-E-HAYAT (KEH)
INTRODUCTION OF KEH:
KEH is a not for profit, philanthropic and welfare organization, established in 1983. It is
certified by Pakistan Centre for Philanthrop, Islamabad. KEH provides treatment and
rehabilitation services to poor and underprivileged mentally ill patients. It is the NGO which
provides free or significantly subsidized OPD and inpatient facilities.

FRAMEWORK FOR UTILIZATION OF ZAKAT AT KEH:


At KEH, each patient is assessed as to whether he/she is Zakat deserving or not, according to
the Shari’ah principles. If the patient is confirmed to be Zakat deserving then he/she, through
an Agency Agreement, appoints the management of KEH to receive Zakat on the patient’s
behalf and utilize the same in treatment of the Zakat deserving patients. The management of
KEH receives Zakat on the patients’ behalf and utilize the same. The tasks involved in the
framework are performed by the Front Desk Officers and Finance Department. An
arrangement has been made to separate the Zakat fund from the Donations. Alhamd Shariah
Advisory Services Private Limited (ASAS) has been appointed to supervise the whole
framework.
OPINION OF THE SHARI’AH ADVISOR (ASAS):
ASAS is of the opinion that the funds that are received under Zakat are utilized in conformity
with the principles of Shari’ah. Therefore, it is permissible to pay Zakat using the channel of
KEH.

This pronouncement is valid till 30th June, 2023.

MUFTI MUHAMMAD IBRAHIM ESSA


For and on behalf of
Alhamd Shariah Advisory Services Private Limited

 +92 322 2671867|  www.alhamdshariahadvisory.com | [email protected]


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