Equal Platform is not just another cryptocurrency trading platform; it goes beyond its core functionality. The company actively embraces Islamic values, particularly the principle of zakat, in all its operations. This approach sets it apart from the competition and makes it an attractive option for investors who share these values.
What is Zakat?
Zakat is one of the five pillars of Islam, a mandatory annual charitable contribution that every Muslim must make from their property that exceeds a certain amount known as nisab. The funds raised through zakat are used to help those in need.
How does Equal Platform Integrate Zakat?
Equal Platform offers an innovative way to pay zakat that allows users to:
- Automate the process: The platform automatically calculates the amount of zakat that each investor or issuer must pay based on their balance sheet.
- Simplify the donation procedure: Users don't need to manually calculate and transfer funds. Everything happens automatically and transparently.
- Select a zakat recipient: The platform gives users the opportunity to choose charitable organizations to which zakat funds will be allocated.
- Reporting: Users can always get detailed reports on how their funds were spent.
- Social responsibility: The ability to contribute to charity and help those in need is a crucial aspect of zakat.
- Reassurance of conscience: Performing a religious duty and obtaining spiritual satisfaction are key elements of zakat.
- Creating a positive image: For companies that issue tokens on the platform, integrating zakat helps create a positive image as a socially responsible organization.
- Strengthening the community: Joint participation in charity projects helps to build a stronger community among platform users.
The process involves four key steps:
- Zakat calculation: The platform automatically calculates the amount of zakat for each user based on their account balance.
- Selecting a recipient: The user can choose the charity organization to which they want to transfer their funds.
- Automatic translation: Funds are automatically transferred to the selected organization's account.
- Reporting: The user receives confirmation of the transfer of funds and can track how they were spent.
- Compliance with Islamic values: The integration of zakat makes the platform more appealing to Muslim investors.
- Social responsibility: This approach demonstrates that the company is not only focused on commercial goals but also cares about the well-being of society.
- Building trust: This approach increases the trust of users and investors in the platform.
- Developing sustainable finance: Integrating zakat contributes to the development of sustainable finance and the creation of a more just society.
Equal Platform is becoming a pioneer in integrating Islamic values into the world of cryptocurrencies. This approach not only expands the platform's audience but also helps to develop a more ethical and socially responsible financial sector.