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Saturday , December 14 2019

Zakat House received KD 93.186m from firms in past 3 financial years

KUWAIT CITY, March 9: Minister of Finance Nayef Al-Hajraf said the Zakat House has received 93.186 million dinars ‘zakat’ from companies during the past three financial years, reports Annahar daily.

He said this in response to a parliamentary question that Zakat House has disbursed about 21 million dinars while about 72 million went to the state treasury. However, the figures presented by the minister reveals a fluctuation in the sum of Zakat, which was about 34 million in 2016 and declined the following year to about 27 million, and then rose to about 31 million in the following year. The minister stressed that Zakat on the shareholding companies is calculated at 1% of the annual net profit from the financial statement approved by the audit offices.

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