Accounts and Audit

BANK ACCOUNT
The President and the General Secretary or the Treasurer jointly operate Bank Accounts on behalf of the Trust.

ACCOUNTS AND AUDIT
The financial year of the Trust is from beginning and end of Calendar Year, unless otherwise decided by the Board of Trustees. The Board of Trustees maintains true and fair accounts of the Trust and instructs other allied institutions to keep proper accounts for any receipts and payments with requisite documents. The accounts of the Trust are annually audited by a Chartered Accountant appointed by the Board of Trustees and the audited statements of accounts are placed before the Board for its approval.

THE SOURCES OF TRUST FUND
  • The Trust raises funds by appealing and inviting contributions and donations from any person or persons;
  • All voluntary donations, gifts, legacies or grants in cash or in kind accepted by the trustees;
  • Subscription of the general members of any committee, governing board etc.
  • All grants and contributions made to the Trust by the Non-Government Islamic Agencies, Donor Agencies, local and foreign individual and institutional donors, the Government, Government Agencies, Trust or Institutions.
APPLICATION OF TRUST FUND The Board determines from time to time, the amount it spends on various activities of the Trust. The Board invests the funds in movable or immovable properties, land and buildings or in any lawful business in such manner as they deem fit fulfilling the objectives of the trust. The Board of Trustees uses funds for meeting cash or non-cash operating expenses, recurring and non-recurring expenses of the Trust activities.