Zakat
Purify your possessions by setting aside a portion for those in need
Zakat (Charity) in Islam
“And establish prayer and give zakat, and whatever good you put forward for yourselves—you will find it with Allah; surely Allah sees what you do.” Holy Qur’an (2:110)
One of the Five Pillars of Islam is Zakat, which means giving charity. Muslims are required to give 2.5% of their income to those in need. Zakat is not a tax, but a way for Muslims to help those who are less fortunate.
There are many other ways to give charity in Islam. Giving to the poor and needy is highly encouraged, and there are many Hadith that tell Muslims to give charity. One Hadith says, “Charity is a must, on every Muslim.” Another says, “The best charity is that which is given when one is still alive and can enjoy seeing the results of his generosity.”
There are many Islamic charities that help those in need all over the world. Some of these charities provide food and clothing to the poor, while others help build mosques or provide scholarships for students. Giving charity is a great way to help those in need and to earn Allah’s pleasure.
Frequently Asked Questions Regarding Zakat
- Jewelry and Precious Metal – Case in point, Gold and Silver. Both come under Zakat even if they are used merely for decorative purposes. The reason behind it is simple; they contribute towards your cumulative wealth and as such their worth must be tabulated when calculating Zakat.
- Bank Accounts – Any cash, bonds, stock one might have in their savings account. The amount should be in the bank for one year. Loans given or funds received are also part of the Zakat process.
- Cattle and Crops – Cattle and crops that are in excess of one’s need.
- Making Niyyah (intention) is only half the task. Muslims must also consider the following conditions in order to ensure their contribution is paid correctly.
- Recipient’s Eligibility: It is absolutely imperative that every shred of aid given reaches only those who need it most. As such, recipients must be sufficiently poor to receive it. In a nutshell, if they don’t have personal assets that either meet or exceed the nisab, they are eligible to receive Zakat.
- Paying Zakat in Advance: People who wish to pay for future years can certainly do so. Keep in mind that the pre-paid amount can be offset against the actual liability incurred in future years.
- Payment in Kind: Zakat can be paid in many ways. The ideal way for today’s fast paced world is cash or if some people prefer, they can pay in kind as long as the value of goods are equal to the cash amount and furthermore, the recipient has agreed to accept the goods in kind.
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Description
Zakat
Additional information
Amount | $100, $250, $500, $1,000, $2,500, Other |
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