PayZakat is one of the most innovative Islamic Fintech projects that aims to dramatically increase the effectiveness of wealth distribution in the Muslim world.
PayZakat secured 5 mln roubles of investment. It is a platform for collecting and distributing compulsory and voluntary contributions that members of the Muslim community give to the poor. Users can calculate payments (Zakat, Zakat al-Fitr and Zakat al-Adha) using chatbots on social networks, divide them between charity foundations, and select projects that they want to donate to.
The Foundation for the Preservation and Restoration of Cultural, Historical and Architectural Heritage’s Sites (Ufa, Russia) has become PayZakat’s first charity partner. Together they are working to finance the construction of AR-RAHIM MOSQUE in Ufa (the Russian Federation). The main relic of the mosque will be a hair from the beard of the Prophet Muhammad (pbuh).
Sberbank and the Higher School of Economics (HSE) corporate accelrator aims to create and fund start-ups in the area of e-medicine, education, fintech, leisure, e-commerce, business services, new technology, and other areas of digital business. The organisers received 575 applications to participate at the first stage.
At the second stage, participants took part in training, talked with successful entrepreneurs, and analysed the market. The strongest teams, who were able to prove that there is demand for their products, made it through to the third stage. At the end, only 6 companies were able to secure funding from the Russia’s largest bank.
Source Salaam Gateway