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The Islamic Foundation Act, 1975

( ACT NO. XVII OF 1975 )

12. (1) There shall be a Fund of the Foundation to which shall be credited-
(a) funds of the Baitul Mukarram and the Islamic Academy transferred to the Foundation under section 20;
1[(aa) funds of the Jamiatul Falah Mosque and Complex, Chittagong, transferred under section 20A;]
(b) grants and loans from the Government;
(c) loans raised in Bangladesh;
(d) aids and grants received from foreign countries or organizations with the prior approval of the Government;
(e) donations and endowments;
(f) incomes from investments, royalties and properties; and
(g) all other receipts of the Foundation.
(2) The Fund of the Foundation shall be utilized by it to meet charges in connection with its functions under this Act and all payments of the Foundation shall be made out of that Fund.
(3) All moneys of the Foundation shall be deposited with any bank.

  • 1
    Clause (aa) was inserted by section 7 of the Islamic Foundation (Amendment) Act, 2013 (Act No. X of 2013).
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