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Islamic charity fund set for 2010 debut

Posted on 02 October 2009

From Philanthropy.com: A new fund to manage Islamic charitable donations plans to start up in early 2010 and aims to raise $750-million from wealthy Muslims in its first year, Reuters reports.

The World Zakat Fund, an effort by the Malaysian government, has so far collected $50-million in “soft” commitments and hopes to pay annual returns of 10 to 15 percent, said Humayon Dar, chief executive of BMB Islamic, a financial consultant who is advising the fund………………Full Article: Source

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