Zakat

Ryan Partners with Cygnet Infotech to Expand Its International Tax Technology and E-Invoicing Offering

Retrieved on: 
Tuesday, September 12, 2023
Banking, Software, Accounting, Professional Services, Internet, Business, Fintech, Data Management, Payments, Electronic Commerce, Technology, Legal, Finance, Information technology, Partnership, Tax, Kingdom, Zakat, Online shopping

Ryan , a leading global tax services and software provider, announced today it has partnered with Cygnet Infotech , a leading global IT solution provider.

Key Points: 
  • Ryan , a leading global tax services and software provider, announced today it has partnered with Cygnet Infotech , a leading global IT solution provider.
  • This new international partnership will strengthen Ryan’s ability to solve clients’ complex tax compliance and reporting challenges across Europe, the Middle East, and India.
  • Headquartered in Ahmedabad, India, Cygnet Infotech’s tax technology division, Cygnet TaxTech , offers indirect tax compliance solutions servicing various industries and organisations across the globe including the UK, Europe, and the Middle East.
  • “With the number of new e-invoicing and real-time reporting mandates across different countries and regions, many of our clients are considering more flexible, robust technology platforms to meet these increased compliance requirements,” said Ryan Tax Technology Principal Jun Miyake .

Sharjah Digital Office announces new services on Digital Sharjah Platform

Retrieved on: 
Wednesday, July 26, 2023
Google Pay, Livestock, Sharjah Police Force, Apple Pay, Malacca Al-Quran Museum, Electricity, Farmer, Water, Quality of life, Samsung, Android, IOS, Government, Sharjah Electricity and Water Authority, Disabled parking permit, Islam, Growth, Emirate, National Oil and Gas Authority, Transport, Samsung Pay, Food security, Tourism, Online shopping, Retail, Quran, Zakat

SHARJAH, UAE, July 26, 2023 /PRNewswire/ -- The Sharjah Digital Office has announced the integration of four new government services and features to its Digital Sharjah platform. The new inclusions can be accessed via the website and online applications. This brings the total number of services provided on the platform to more than 60, covering various areas of life.

Key Points: 
  • Aligned with the strategic objectives of the Sharjah Digital Office, these latest service enhancements aim to bolster the sustainable digital future of the Emirate.
  • The newly added services include:
    The Sharjah Digital Office has announced the addition of the "Visit the Quranic Museums" service on the Digital Sharjah platform, within the general services sector.
  • The Sharjah Digital Office is at the forefront of transforming lives and empowering communities through cutting-edge digital solutions.
  • Its Digital Sharjah platform offers a diverse range of services spanning across seven pivotal sectors, namely business, transportation, utility services, social services, public services, security, and real estate.

Sharjah Digital Office announces new services on Digital Sharjah Platform

Retrieved on: 
Wednesday, July 26, 2023
Google Pay, Livestock, Sharjah Police Force, Apple Pay, Malacca Al-Quran Museum, Electricity, Farmer, Water, Quality of life, Samsung, Android, Multimedia, IOS, Government, Sharjah Electricity and Water Authority, Disabled parking permit, Islam, Growth, Emirate, National Oil and Gas Authority, Transport, Samsung Pay, Food security, Tourism, Online shopping, Retail, Quran, Zakat

SHARJAH, UAE, July 26, 2023 /PRNewswire/ -- The Sharjah Digital Office has announced the integration of four new government services and features to its Digital Sharjah platform. The new inclusions can be accessed via the website and online applications. This brings the total number of services provided on the platform to more than 60, covering various areas of life.

Key Points: 
  • Aligned with the strategic objectives of the Sharjah Digital Office, these latest service enhancements aim to bolster the sustainable digital future of the Emirate.
  • The newly added services include:
    The Sharjah Digital Office has announced the addition of the "Visit the Quranic Museums" service on the Digital Sharjah platform, within the general services sector.
  • The Sharjah Digital Office is at the forefront of transforming lives and empowering communities through cutting-edge digital solutions.
  • Its Digital Sharjah platform offers a diverse range of services spanning across seven pivotal sectors, namely business, transportation, utility services, social services, public services, security, and real estate.

Riyad Bank goes live in the Kingdom of Saudi Arabia with the E-invoicing ZATCA integration; enabled by SunTec Xelerate

Retrieved on: 
Monday, February 20, 2023
Professional Services, Data Management, Technology, Finance, Software, Fintech, GCC, KSA, Invenio Business Solutions, Gulf Cooperation Council, Authority, Federal Customs Authority, Riyad Bank, Tax, Online shopping, Kingdom, Zakat

Along with Riyad Bank, SunTec is also working closely with the top five banks in the region to seamlessly integrate the e-invoicing solution with ZATCA's platform (FATOORA) under Wave 2 E-invoicing.

Key Points: 
  • Along with Riyad Bank, SunTec is also working closely with the top five banks in the region to seamlessly integrate the e-invoicing solution with ZATCA's platform (FATOORA) under Wave 2 E-invoicing.
  • Amit Dua, President at SunTec said, “We are truly delighted to have implemented the e-invoicing regime and ZATCA integration at Riyad Bank.
  • To learn more about how SunTec can help your bank stay compliant with e-Invoicing ZATCA phase II integration, download this eBook .
  • This aims to assist the Kingdom in developing into a significant global logistics hub by promoting trade and maintaining national security.

Standard & Poor's Assigns Tawuniya an "A-" Rating; Outlook "Stable"

Retrieved on: 
Thursday, April 21, 2022
Insurance, Professional Services, Growth, Income, Kingdom, Zakat, GWP, Insurance, Multimedia, S&P Global Ratings, S&P, Bank

Standard & Poor's Global Rating Agency has assigned Tawuniya Insurance Company an "A-" rating and outlook "stable", which is one of the highest financial ratings amongst the insurance companies in the Kingdom of Saudi Arabia, Middle East, and North African.

Key Points: 
  • Standard & Poor's Global Rating Agency has assigned Tawuniya Insurance Company an "A-" rating and outlook "stable", which is one of the highest financial ratings amongst the insurance companies in the Kingdom of Saudi Arabia, Middle East, and North African.
  • View the full release here: https://www.businesswire.com/news/home/20220421005687/en/
    This rating reflects Tawuniya's improving financial performance for the last three consecutive years from 2019 to 2021, as shown in the S&P report.
  • In 2021, Tawuniya achieved positive results, including a 13% growth compared to last year in GWP reaching 10.2 billion Saudi riyals, and increasing the company's market share to 25% accordingly.
  • Standard & Poor's confirmed that the stable outlook reflects its view that Tawuniya will maintain its strong operating performance and competitive position, while gradually improving its capital adequacy over the next two years.

Odoo's Rapid Solution for KSA E-Invoicing (FATOORA)

Retrieved on: 
Monday, December 13, 2021
Goal, Ecosystem, VAT, HR, Kingdom, Software, KSA, Marketing, Book, PDF, Government, International Group, Efficiency, ERP, RoadShow, Online shopping, Odoo, Zakat

DUBAI, UAE, Dec. 13, 2021 /PRNewswire/ -- The government of Saudi Arabia (KSA) has implemented e-invoicing (FATOORA) as a mandatory requirement from December 4, 2021, under which VAT applicable businesses have to use a compatible system to generate invoices and provide an option to capture QR codes as per Zakat, Tax and Customs Authority (ZATCA) guidelines. This means that suppliers will no longer be allowed to generate or store paper or PDF invoices.

Key Points: 
  • This means that suppliers will no longer be allowed to generate or store paper or PDF invoices.
  • Odoo, a leader in open source all-in-one business software, has the localized solution for KSA e-invoicing Phase One already available for their customers.
  • This solution assists all current and future Odoo customers to comply with ZATCA quickly and efficiently.
  • "We've assisted already the majority of our Saudi Arabian customers to be compliant and avoid any costly penalties."

Odoo's Rapid Solution for KSA E-Invoicing (FATOORA)

Retrieved on: 
Monday, December 13, 2021
Goal, Ecosystem, VAT, HR, Kingdom, Software, KSA, Marketing, Book, PDF, Government, International Group, Efficiency, ERP, RoadShow, Online shopping, Odoo, Zakat

This means that suppliers will no longer be allowed to generate or store paper or PDF invoices.

Key Points: 
  • This means that suppliers will no longer be allowed to generate or store paper or PDF invoices.
  • Odoo, a leader in open source all-in-one business software, has the localized solution for KSA e-invoicing Phase One already available for their customers.
  • This solution assists all current and future Odoo customers to comply with ZATCA quickly and efficiently.
  • "We've assisted already the majority of our Saudi Arabian customers to be compliant and avoid any costly penalties."

Azzad Asset Management clients to donate nearly $10 million this Ramadan

Retrieved on: 
Tuesday, April 20, 2021
Zakat, Accounting and Auditing Organization for Islamic Financial Institutions, Ramadan, Islam, Abrahamic religions, Islamic economics, Western culture

b"Falls Church, Virginia, April 20, 2021 (GLOBE NEWSWIRE) -- Azzad Asset Management, a socially responsible, faith-based registered investment advisor, announced today that its Muslim clients are expected to donate approximately $10 million in zakah-related charity during the holy month of Ramadan.\nZakah--sometimes spelled zakat--is an obligation that practicing Muslims pay on assets held for a full lunar year, including investments.

Key Points: 
  • b"Falls Church, Virginia, April 20, 2021 (GLOBE NEWSWIRE) -- Azzad Asset Management, a socially responsible, faith-based registered investment advisor, announced today that its Muslim clients are expected to donate approximately $10 million in zakah-related charity during the holy month of Ramadan.\nZakah--sometimes spelled zakat--is an obligation that practicing Muslims pay on assets held for a full lunar year, including investments.
  • Azzad calculates and reports to clients the amounts that should be given in charity each year.
  • The firm's calculations follow internationally accepted guidelines issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
  • AAOIFI is a consortium of Muslim scholars who convene to issue guidance on halal investing and other financial matters.

Azzad clients to donate $6.7 million in charity from investment accounts this Ramadan

Retrieved on: 
Tuesday, May 5, 2020
Islam, Sawm, Ramadan, Zakat, Asset management

Falls Church, Virginia, May 05, 2020 (GLOBE NEWSWIRE) -- Azzad Asset Management, a socially responsible, faith-based registered investment advisor, announced today that its Muslim clients are expected to donate approximately $6.7 million in zakah-related charity during the holy month of Ramadan.

Key Points: 
  • Falls Church, Virginia, May 05, 2020 (GLOBE NEWSWIRE) -- Azzad Asset Management, a socially responsible, faith-based registered investment advisor, announced today that its Muslim clients are expected to donate approximately $6.7 million in zakah-related charity during the holy month of Ramadan.
  • Both figures are reported to clients on a consolidated zakah and purification statement sent each Ramadan.
  • This Ramadan, Azzad is encouraging its clients to consider donating to mosques and other zakah-eligible non-profit organizations impacted by the coronavirus crisis.
  • Since 1997, Azzad Asset Management has provided investment services designed to help clients enjoy optimum performance without compromising their values.

"Over 1 million Zakat beneficiaries through the Refugee Zakat Fund", UNHCR reveals, urging continued Islamic Philanthropy contributions amid COVID-19 emergency

Retrieved on: 
Monday, April 20, 2020
Aftermath of war, Forced migration, Demography, United Nations Development Group, United Nations High Commissioner for Refugees, Human rights abuses, Refugee, Internally displaced person, Zakat, Human geography

Other donations to the UNHCR Refugee Zakat Fund were from individuals, institutional partners and philanthropists.

Key Points: 
  • Other donations to the UNHCR Refugee Zakat Fund were from individuals, institutional partners and philanthropists.
  • On March 25th, UNHCR appealed for $255 million for its urgent push to curb the risk and lessen the impact of COVID-19 outbreaks on vulnerable communities.
  • The Refugee Zakat Fund was launched by UNHCR in 2019, as a trusted, compliant and effective distributor harnessing the power of Zakat to transform the lives of the most vulnerable refugee and IDPs.
  • Since its first year of inception in 2019, the fund has assisted more than one million vulnerable beneficiaries worldwide.