The Financial System of the Jamia

The financial system of the Jamia is an important department where a complete and detailed account of income and expenses is maintained. The accounting process has been organized in such a way that not even a single penny can go missing, as it will be traced back. Measures have been taken to completely eliminate the possibilities of fraud and negligence.

Careful attention is given to differentiating between Sadaqa-e Wajibah and Nafilah (obligatory and voluntary charities) and tracking their expenditures. The preparation of all the financial statements is carried out by an accountant, under whose supervision half a dozen editors work. No expense is incurred without the approval of the authorized personnel. Finally, the designated manager of the advisory committee meticulously reviews vouchers and registers of income and expenditure before putting his signature on them.

An annual budget is prepared for the income and expenditure of the Jamia, and it is implemented after approval from the advisory committee. Every year, the accounts are audited by a Chartered Accountant, and a detailed report is presented to the advisory committee.

This Jamia has a century-long history of establishment and is equally benefiting the general public and scholars through its blessings. It is purely a manifestation of divine grace and the sincerity of its predecessors. However, for practical reasons – following the method and guidance of its honourable predecessors – the servants of the Jamia have also accepted and utilized the financial cooperation of people, considering it as another form of divine grace.

Alhamdulillah, even in this regard, every year there is an increase in the attention of both the general public and the elite towards the Jamia. When the Jamia was established, its annual income was merely one hundred rupees. However, today, as it completes its centennial educational journey, its annual budget has exceeded three crore rupees, which is being fulfilled through the modest contributions of the general public, solely by the grace of the Almighty.