Wednesday, September 5, 2012

The ‎3rd Sector..

Most of the Western systems and ligslations encourage charities as deductibles from the annual taxation.. It is simply a win-win situation, whereas the rich ones got the fame, and the public got free gifts and aid.. Many are misled by famous "Generous Celebraties", like Obera Winffery and Bill Gates; not knowing how much they truly cut from their own pockets to fund both public and commons.. You better browse their fortunes..!!

The true example of moral charities would be among whose with no direct or indirect benefits from their charities.. Maybe more expressed by who do it anonymously, regardless how much the monetary value..!!

Financials of NGOs (annually $3 trillion) is the new frontiers of business.. This 3rd sector is totally new to our 3rd world ears.. We shall take another 10 years to understand the mechanism of the confusing philothronpy structure.. Meanwhile, we just keep putting our small amounts in the charity boxes located wherever we go..!!!

This ‎3rd sector is a new conceptual domain within the economic strucure, whereas Zakat and Charities are included.. In Arabic Islamic history; Zakat was not taxation, Moukus (and/or Jaziya) was the one.. Zakat was not collected to asseble armies, pave roads, provide infrastructure or pay the public servents.. Arabic Islamic heritage was (delibrately) immature in this regard, considering the many demographic and siciopolitical components within..

Zakat is only 1-2.25%, while the standard worldly taxation is 20-30%

Certainly, we are not in need to sail back for centuries to learn what to do, but to look around and import (or imitate) the good examples of (complex) financial management.. and they are many..!

CDM for Zakat in UAE

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