Charity Fund definition

Charity Fund means a fund where income from Shari’ah non-compliant sources or penalties and late payment charges received from Customer(s) in default or overdue cases are channelled.
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Charity Fund. Means a fund maintained by the Islamic Banking Division, consisting of charity amounts recovered from Customers of the Islamic Banking Division, the amounts and proceeds whereof are to be applied for charitable purposes in accordance with the decision of Shariah.
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Charity Fund means a fund that is organized and operates on a not-for-profit basis with the aims of supporting the remedy of difficulties caused by disasters, conflagrations, epidemics or accidents and other disadvantaged persons in need of social assistance.
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Examples of Charity Fund in a sentence

  • The Charity Fund shall be used at the absolute discretion of the Institution, exclusively for the purposes of approved charity.

  • Description of Timber by Payment Unit (PU)PUMARKET GROUPPRODUCTQUANTITYUNITACRESADVERTISE PRICE1Balsam FirPulpwood107.0Cords17.0$5,327.25 Mixed Hardwood 139.0Cords Mixed Spruce 89.0Cords TOTAL:335.0Cords Sale Specific Conditions & Requirements Sale Name: Forgotten Aspen Sale Number: 45-105-19 Seq#: 1 1 - Sale Area1.2 - Boundaries 1.2.1 - Painted boundaries (1/14)The sale boundary and Payment Unit boundaries are marked and identified by red.

  • The Customer shall authorise the Bank as agent (Wakeel) by written instruction to deduct the whole or any part of the profit (if any) realised and earned to be apportioned to charity; and subsequently distribute and manage the charity fund according to the Bank’s Charity Fund Policy.

  • The Shirt Charity Endowment shall exist so that the interest acquired from the endowment may fund the Shirt Charity Fund account.

  • Any firm or individual who wishes to make a gesture of goodwill to the Council or its officers should be redirected to the Mayor's Charity Fund.

  • If this occurs, the starting balance amount of the Shirt Charity Fund shall be reevaluated by the Financial Management Board and approved by the Senate.

  • If Shirt Charity Fund requests approved by Financial Management Board exceed the balance of The Shirt Charity Fund, existing funds in The Shirt Profit account may be transferred directly to the Shirt Charity Fund account to cover any shortfall.

  • The Shirt Charity Fund balance should not exceed a starting fiscal year balance of $300,000.

  • All penalty funds will be channelled into the Charity Fund of the bank and will not be included in the income of the bank.

  • All penalties levied and all contributions to the Bank’s Charity Fund undertaken by the customer as per the facility terms, will be unconditionally paid to the BML Islamic’s Charity Fund, and the fund will not be used by the Bank for its own purposes either directly or indirectly and will be used for charitable purposes only.

Related to Charity Fund

  • Charity means a body which is either a “Scottish charity” within the meaning of section 13 of the Charities and Trustee Investment (Scotland) Act 2005 or a “charity” within the meaning of section 1 of the Charities Act 2006, providing (in either case) that its objects are limited to charitable purposes;

  • State Fund means a component of the Settlement Fund described in subsection VIII.D.

  • Sub-Fund means a segregated pool of assets and liabilities into which the Trust Fund is divided, established under the Trust Deed and the relevant supplemental deed as a separate trust as described in the relevant Appendix.

  • Provident Fund means any fund (other than a pension fund, benefit fund or retirement annuity fund) which is approved by the Minister in respect of the year of assessment in question: Provided that the Minister may approve a fund subject to such limitations or conditions as he or she may determine, and shall not approve a fund in respect of any year of assessment unless he or she is in respect of that year of assessment satisfied -

  • Fund means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business.