The Zakat Affairs Department at the Ministry of Endowments and Islamic Affairs (Awqaf) announced an updated Zakat ratio table for 39 companies listed on the Qatar Exchange for the fiscal year ending in 2024.
This update, now available on the department's mobile application and official website, aims to help shareholders calculate and pay their Zakat on shares in a timely manner.
Director of Awqaf's Zakat Affairs Department Malallah Abdul Rahman Al Jaber highlighted that the department issues these ratios annually to assist shareholders in determining the Zakat owed on their wealth and shares once a full lunar year has passed.
He noted that due to some companies not disclosing their financial results for 2024, a comprehensive report covering all companies has not been released. The department will update the table and integrate it into the Zakat calculator available on its app and website upon receiving the remaining financial statements.
As the official body responsible for collecting and distributing Zakat funds within Qatar, the Zakat Affairs Department also provides Zakat calculation services for small and medium private companies not listed on the stock exchange upon request. Al Jaber encouraged businesses of all sizes, banks, and individual entrepreneurs to fulfill their Zakat obligations, emphasizing that Zakat is a divine duty and a right of the poor and needy. He also highlighted the importance of supporting the department's charitable initiatives in Qatar, which focus on assisting those eligible for Zakat.
He added that the updated Zakat ratios cover 39 companies across seven main sectors. The banking and financial services sector includes Qatar Islamic Bank, Qatar International Islamic Bank, Al Rayan Bank, Dukhan Bank, Al Ijarah Holding, Inmaa Holding, Dlala Brokerage, and Lesha Bank (formerly Qatar First Bank). The insurance sector comprises Al Khaleej Takaful and Daman Insurance (Beema). The consumer goods and services sector includes GWC, Widam, Baladna, Mekdam, Meeza, Medicare, Al Faleh Educational, and Al Mahar.
The transportation sector features Qatar Navigation (Milaha), Nakilat, and Gulf International Services. The industrial sector includes QIMC, Qatar National Cement Company, Industries Qatar, Qatar Investors Group, QEWC, Salam International, Woqod, Mesaieed, and Qatar Aluminum Manufacturing Company (QAMCO). The real estate sector comprises UDC, Mazaya Qatar, and Aamal. The telecommunications sector includes Ooredoo.
Companies whose Zakat ratios have not yet been calculated due to the lack of financial disclosure include Al Khaleej Insurance, Mannai Corporation, Qatar Oman Investment Company, Ezdan Holding Group, Medical Equipment Company, Al Meera, and Investment Holding Group. These companies will be added once their financial data is disclosed. (QNA
