IslamicFinance.de

Russia's state-controlled Sberbank will acquire 25% of the PayZakat platform that collects charity for Muslims in need. PayZakat is a start-up that won Sberbank’s first Sber#Up corporate accelerator competition for its own employees, and the bank sees global and universal potential for the platform. The PayZakat platform allows its users to calculate their contribution amount, and channel it to the charity of their choice. Chat bots integrated into social networks help with the process and provide status updates on the contribution. Sberbank is at the forefront of Russian digital development and is preparing to launch its Sber digital ecosystem in the short- to medium-term.