243,000 Individuals Paid Their Zakat Through the Authority, Benefitting 41,000
The General Authority of Islamic Affairs, Endowments, and Zakat has achieved a series of impactful milestones and initiatives in 2024, enhancing its leading role, particularly in the endowment sector. The authority has carried out numerous transformative projects that have improved its service delivery for beneficiaries and zakat contributors.
Among its successes, the authority increased revenue from endowment investment deposits, expanded its endowment assets, and boosted the income from real estate portfolios. Additionally, several artificial intelligence projects were launched and integrated into zakat services, as outlined in a report prepared by the authority and published by the Federal National Council.
The report highlighted a new project aimed at reducing bureaucracy in collaboration with the Ministry of Justice, specifically for endowment registration, which has shortened the service processing time from 30 days to just two days. This initiative is part of the authority’s effort to standardize procedures and simplify endowment processes in partnership with national institutions.
Furthermore, the report noted various developmental projects on the agenda of the General Authority overseeing Islamic Affairs, Endowments, and Zakat, as well as ongoing strategies within the endowment sector.
Revenue
According to the report, endowment revenues have seen growth, with the real estate portfolio achieving a 20% increase in occupancy rates in 2024 compared to 2023, leading to a 58% rise in overall income.
The total number of endowment units managed by the authority stands at 1,399. The number of individuals who contributed their zakat through the authority reached 243,000, and 41,000 beneficiaries received zakat revenues. Furthermore, revenue from investment deposits increased by 7% last year, alongside a 10% growth in endowment assets.
Employee satisfaction levels were reported at 91% by the end of 2024, while endowments contributed to a 91.6% improvement in living standards for beneficiaries.
Technology
The past year saw the authority enhance its digital transformation efforts in the endowment field, increasing automation levels significantly. With the integration of artificial intelligence in the endowment sector, automation reached 90%, while financial transactions related to endowments achieved a 95% automation rate. Additionally, a unified digital platform for endowment donations was established according to their specific funds, alongside the launch of various AI projects in the zakat sector.