Wealth Purification Program
Introduction
The Wealth Purification Program is an initiative by the Cambodian Amanah Takaful Association (CATA) designed to provide members with Shariah-compliant banking solutions. Islam prohibits interest (Riba), creating challenges for Muslims using conventional banking systems. This program offers a structured platform enabling members to manage their finances in accordance with Islamic principles through a strategic partnership between CATA and a Local Bank.
PROGRAM OBJECTIVES
- Interest-Free Banking Solution: Provide CATA members with banking services that allow them to save and manage their money without earning or paying interest, ensuring compliance with Islamic financial principles.
- Automated Purification System: Establish a mechanism where any unavoidable interest generated is automatically redirected to CATA as a permissible donation, allowing members to purify their wealth and eliminate concerns related to Riba.
- Financial Peace of Mind: Ensure CATA members can participate in the modern banking system with confidence that their financial activities remain compliant with Islamic law.
ROLES AND RESPONSIBILITIES
Cambodian Amanah Takaful Association (CATA)
- Program Administration & Oversight: Ensure the program maintains strict compliance with Islamic principles
- Member Education: Provide educational resources on Riba clearance and Shariah-compliant financial practices
- Funds Management: Oversee the allocation of redirected interest funds toward permissible charitable activities
- Financial Institution Partnership: Maintain close collaboration with the Local Bank partner to ensure smooth program operation
CATA Members
- Program Enrollment: Sign the agreement authorizing automatic redirection of any accrued interest to CATA
- Documentation Requirements:
- Valid bank account number with the Local Bank
- Copy of National ID or official identification document
- Signed participation agreement
- Account Utilization: Continue normal banking activities with assurance that any interest is automatically purified
- Educational Participation: Engage in Islamic financial literacy sessions provided by CATA
- Alternative Contribution Method: Members without required documentation may contribute by manually transferring Riba funds or scanning the official KHQR code
LOCAL BANK PARTNER
- Specialized Account Management: Establish and maintain accounts that either:
- Do not accrue interest, or
- Automatically redirect any generated interest to CATA
- Technical Implementation: Develop and maintain the systems required for seamless redirection of Riba funds
- Transparency & Reporting: Provide regular reports detailing redirected interest amounts and ensure full process transparency
PROGRAM BENEFITS
Why Join Our Wealth Purification Program?
- Religious Compliance: Fulfill your obligation to avoid benefiting from interest
- Community Development: Support collective initiatives that strengthen the Cambodian Muslim community
- Transparent Distribution: Gain confidence that purified funds are properly managed and distributed
- Simplified Compliance: Maintain Islamic financial principles without complex manual calculations
HOW THE PROGRAM WORKS
- Account Registration: Enroll in the program by submitting required documentation to CATA
- Automatic Processing: Continue using your bank account normally while the system handles interest redirection
- Alternative Manual Option: For those preferring direct control:
- Calculate interest earned from conventional banking
- Scan the CATA KHQR code using your banking app
- Transfer the interest amount for purification
- Receive confirmation of your contribution
COMMUNITY IMPACT
Your participation directly supports vital community initiatives including:
- Education programs for underprivileged Muslim children
- Emergency assistance for families facing hardship
- Community infrastructure development
- Healthcare access for vulnerable community members
- Islamic educational resources and programs
JOIN TODAY
Official Registration: Visit the CATA office with required documentation
Alternative Contribution: Scan the KHQR Code below
[KHQR Code would appear here]
Amount
Details
Payment