UAE: Now, donate with Bitcoin to charities this Ramadan

Agence France-Presse (AFP)/AFP

Officials warn of up to $136,300 fine for those caught collecting donations illegally

Ruqayya Al Qaydi, Khaleej Times

March 6, 2024

PHOTO

Authorities in the UAE will accept Bitcoin and other digital currencies for donations this Ramadan, a top official said on Wednesday. These will complement traditional methods of raising funds like cash with receipts, vouchers, SMS, markets, exhibitions, auctions, charity events and monthly deductions from personal bank accounts.

However, Mohammed Naqi, director of the Non-benefit public Associations Department at the Ministry of Community Development, warned against illegal fundraising.

Only approved entities can raise funds for charity. Charitable associations, federal and local authorities and non-profit associations may raise funds only after being authorised by the Ministry of Community Development. Violators face fines of up to Dh500,000.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO