About Jaiz Charity & Development Foundation

One of the characteristics of Non-Interest Banking is the establishment and maintenance of a Charity & Development organization. This is the special purpose vehicle by which certain types of incomes that are impermissible or doubtful are channeled to be used for charitable purposes. These are incomes not recognized by the Bank (Non-permissible incomes) or the ones classified as doubtful by the Bank’s Advisory Council of Experts (ACE). However, other sources of income such as Zakat obligations, Endowments, Donations, Income from Investments and Grants, etc, are pursued and encouraged...