Zakat board fears lack of funds as retrenchments, number of recipients rise

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The Selangor zakat board says up to 80,000 families may need assistance this year.PETALING JAYA: The Selangor zakat board fears it may have insufficient funds to provide financial aid to those eligible, or asnaf, as it expects lower zakat collection this year due to the wave of retrenchments as companies struggle to stay afloat in the economic crisis. The Lembaga Zakat Selangor (LZS) said it expected to collect up to RM800 million this year, compared to almost RM900 million in 2019. This is because over 70% of the annual zakat collection comes from business and individuals’ income tax. While the number needing assistance has increased gradually over the years in Selangor, LZS estimated a surge of up to 80,000 families needing assistance this year. The prolonged crisis could push the number higher, it said. “There were more than 60,000 families which required assistance last year. …