Take this great opportunity! There is no better time to give Zakat Al-Maal than today
UMR is currently working on several projects around the world where your Zakat money can help the poor and destitute, those that have been forced to leave their homes.
Zakat is one of the five pillars of Islam. As such, it is compulsory on Muslims, provided they meet certain conditions and criteria.
Any Muslim who possesses the required nisaab (the minimum amount of wealth that one must have before their Zakat is payable) for one whole year is bound to pay Zakat on that wealth. It is imperative that Muslims know exactly how much Zakat they owe and how to calculate so that the right amount can be given to the intended recipient. A lot of people choose Ramadan as the month in which they pay their zakat and for good reasons. Ramadan is the month of blessings and the rewards for all good deeds is far greater in this blessed Ramadan that in any other month.
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.