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Kestrl, a company focused on technological innovation in the realm of charitable giving, has recently launched the world’s first Open Banking powered Zakat tool. This tool is designed to make it easier for Muslims to calculate and donate their Zakat, which is an obligatory charity that requires Muslims to donate 2.5% of their annual income to those in need. Kestrl has partnered with the National Zakat Foundation to develop this tool, which includes an Auto Calculator and Donation feature.
The Auto Calculator feature is simple to use. Users can plug their bank accounts into the app via Open Banking, and Kestrl will automatically fill in as much information as it can to calculate the user’s Zakat requirement. This is an important feature, as it can be challenging for Muslims to accurately calculate their Zakat obligation. The app is designed to help alleviate this issue and provide Muslims with a convenient and reliable tool to calculate their Zakat.
Once users have calculated their Zakat requirement, they can then use Kestrl’s Donation feature to automate their Zakat or Sadaqah charitable donation over the Final 10 Nights of Ramadan. This period of time is considered to be especially auspicious, and many Muslims choose to increase their charitable giving during this time. By automating their donations, users can ensure that their Zakat or Sadaqah is given on the most rewarding nights of Ramadan, including Laylatul-Qadr, which is believed to be the night of power and destiny.
Kestrl has expressed excitement about the development of this tool and the continued partnership with the National Zakat Foundation. The company has recognized the hard work and dedication of the entire Kestrl team in creating this innovative tool, including Muhammad, Azreen, Anwar, and Daeng. Kestrl has also expressed gratitude for the ongoing collaboration of Mahboob Hussain and Dr. Sohail Hanif.
