Fintech for a More Charitable Ramadan

The days feel long and the nights feel short, that’s how it is in Ramadan. We’re happy, sleepy, and tired at the same time. That does not stop us from celebrating or giving back.

Charity is a big part of Ramadan and one of the five pillars of Islam, so we put more work into it each Ramadan. And because convenience is fintech’s best friend, here’s how fintech helps you give back this Ramadan!

1. Digital wallets

You use them to save, buy, or receive money. But you can also use them to donate to charities with just a few clicks. You don’t have to visit a physical place or even wait in banks. You can do it all from the comfort of your home.

2. Crowdfunding

It’s not just for businesses! Many people use crowdfunding websites for charitable causes during Ramadan. Whether it’s helping people affected by natural disasters or refugees, fintech allows you to help anyone in need.

3. Blockchain-based donations:

Some people get a bit hesitant before donating to charities.  Questions like “are they really gonna use that money for this cause? Why haven’t they finished that project yet?” pop up in some people’s minds. Now, you can actually check if your donation reached those who need it. Just like any transaction on the blockchain, blockchain-based donations allow you to track where your money goes.

4. Zakat calculator

Zakat is an essential part of Islam but it could be a bit complicated. You need to know how much you have in cash or assets and your debts so you can figure out how much zakat you’re gonna pay! It can be confusing and a lot of math. Zakat calculators make it easier for you and tell you how much you should pay. Zero math is included on your part.

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