Zakat Foundation™ Bangladesh is a non-governmental organization that aims to alleviate poverty and promote socio-economic development in Bangladesh. The organization collects and distributes Zakat, a form of Islamic charity, to help those in need. In this article, we will take a closer look at the legal and financial documents of Zakat Foundation™ Bangladesh.
Legal Documents:
Zakat Foundation™ Bangladesh is a registered organization under the Ministry of Social Welfare in Bangladesh. The organization was registered in 1993 under the Societies Registration Act, 1860. The registration number of the organization is S-14405.
The organization also has a Memorandum of Association (MOA) and Articles of Association (AOA), which outline the objectives, rules, and regulations of the organization. The MOA and AOA have been filed with the Registrar of Joint Stock Companies and Firms in Bangladesh.
Zakat Foundation™ Bangladesh also has a tax exemption certificate issued by the National Board of Revenue (NBR) in Bangladesh. The certificate allows the organization to receive tax-exempted donations from individuals and organizations.
Financial Documents:
Zakat Foundation™ Bangladesh maintains transparent financial records and makes them available to the public. The organization undergoes regular audits by independent auditors to ensure that their financial statements are accurate and reliable. The financial documents of Zakat Foundation™ Bangladesh include:
Annual Reports: The organization publishes an annual report that provides a comprehensive overview of their activities, achievements, and financial performance for the year. The report includes detailed financial statements, such as income and expenditure statements, balance sheets, and cash flow statements.
Audited Financial Statements: Zakat Foundation™ Bangladesh undergoes an annual audit by an independent auditor, who prepares an audited financial statement. The audited financial statement includes a report on the organization's financial performance, including the statement of financial position, income statement, and cash flow statement.
Donor Reports: Zakat Foundation™ Bangladesh provides donor reports to individuals and organizations who have donated to the organization. The donor report includes details on how the donated funds were used, along with financial statements showing the allocation of funds.
Internal Financial Reports: Zakat Foundation™ Bangladesh maintains internal financial reports that track the organization's finances on a regular basis. These reports include details on income, expenses, and budgetary allocations.
Conclusion:
In conclusion, Zakat Foundation™ Bangladesh is a registered non-governmental organization that aims to alleviate poverty and promote socio-economic development in Bangladesh. The organization maintains transparent financial records and undergoes regular audits to ensure the accuracy and reliability of their financial statements. The organization's legal and financial documents, including the Memorandum of Association, Articles of Association, tax exemption certificate, annual reports, audited financial statements, donor reports, and internal financial reports, are available to the public. These documents demonstrate the organization's commitment to transparency and accountability and allow donors and stakeholders to make informed decisions about their support for the organization.
