12.5% rise in Zakat in 2020, says UN refugee agency

Zakat is one of the Five Pillars of Islam and is a religious duty of Muslims to donate money to charitable organizations. (File/AFP)
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Updated 29 March 2021
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12.5% rise in Zakat in 2020, says UN refugee agency

  • $48.6 million was raised in 2020, an increase of 12.5 percent year-on-year

DUBAI: The United Nations’ refugee agency on Monday reported a 12.5 percent rise in donations to its Refugee Zakat Fund last year, resulting in a 59 percent increase in the number of refugees benefiting from this assistance.

Zakat is one of the Five Pillars of Islam and is a religious duty of Muslims to donate money to charitable organizations.

The United Nations High Commissioner for Refugees (UNHCR) set up the Refugee Zakat Fund in 2019 and last year it helped 2.1 million beneficiaries in 13 countries, including Yemen, Lebanon, Iraq, Jordan, Egypt, Mauritania, Niger, Bangladesh, India and Pakistan.

According to the UNHCR’s Annual Islamic Philanthropy Report, $48.6 million was raised in 2020, an increase of 12.5 percent year-on-year.

This meant that 2.1 million refugees and internally displaced people (IDPs) benefited from the Refugee Zakat Fund in 2020, a rise of 59 percent year-on-year. According to the report, 55 percent of the zakat donations were for Yemen, followed by Bangladesh and Lebanon.

Commenting on the impact of Islamic philanthropy on marginalized communities, Prof. Dr. Koutoub Moustafa Sano, secretary-general of the International Islamic Fiqh Academy, said: “With more than 50 percent of the refugees and IDPs coming from OIC countries, the Muslim community responded with generosity to UNHCR’s Refugee Zakat Fund, in particular in the context of the consequences of the pandemic. But the needs are still high, and there is much space left to cover for the expenditures of zakat-compliant activities.”

Despite the rise in donations, the UNHCR has forecast that it would need $9.1 billion to fully address the needs of refugees and IDPs around the world in 2021.


Closing Bell: Saudi main index closes in red at 10,947 

Updated 19 February 2026
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Closing Bell: Saudi main index closes in red at 10,947 

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25. 

The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated. 

The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71. 

The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated. 

The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34. 

Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51. 

On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39. 

National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50. 

On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co. 

In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.  

Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.  

Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.  

The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said. 

The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.