What is Zakat?
Zakat is an important part of the Islamic faith. It is a duty that Muslims are obligated to perform, and it is one of the Five Pillars of Islam. Zakat is a percentage of an individual’s wealth that is given to the poor, needy, and orphaned. It is considered a form of charity, and Muslims are encouraged to give zakat regularly.
What the word Zakat means?
It derives from the Arabic word “Zakah” which means “cleanliness, purification, increase, growth, righteousness, blessing and praise.”
When, how much, and to whom to pay?
Zakat has to be paid once a year from the date a Muslim wealth equals or exceeds the Nisab. However, only 2.5% of the wealth has to be donate to the eight categories of eligible recipients described in the Holy Quran.
“Zakah expenditures are only for the poor and for the needy and for those employed to collect [zakah] and for bringing hearts together [for Islam] and for freeing captives [or slaves] and for those in debt and the cause of Allah and the [stranded] traveler – an obligation [imposed] by Allah. And Allah is Knowing and Wise.” (Al-Tawba: 60)