Microcredit
Microcredit is the extension of small, interest-free loans to those in poverty to facilitate entrepreneurial efforts. Microcredit is a tool for socioeconomic development.
Islamic scholars contend that a poor person with a skill or trade should receive adequate Zakat to acquire the necessary tools in order to become self-sufficient. For example, a rancher or herder can be given enough livestock to earn a living. A carpenter may be given tools and a seamstress or tailor can be given sewing machines to support their respective businesses.
Microcredit supports an autonomous organization of the rural and urban poor towards a dynamic and long lasting strengthening of communities from within.
Zakat Foundation of America, a Muslim charity that collects zakat, sadaqa / donations to provide humanitarian, emergency relief and sustainable development programs to empower lives throughout the world. We offer top Zakat resources including The Zakat Handbook: A Practical Guide for Muslims in the West, Zakat kit, ask an Imam feature, and you can calculate and pay zakat through our easy, online calculator.
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Zakat Foundation is recognized and registered under 501(c)(3) as a non-profit charity organization; therefore all donations to Zakat Foundation are tax exempt. We are registered in Illinois as Zakat Foundation of America. Our Tax ID is 36-44 76244
