Islamic Zakaat Fund


Who Receives Zakaat?

The Quran (Chapter 9, verse 60) specifies eight categories for the distribution of Zakat: The poor The needy Those employed to administer Zakat Those whose hearts are to be reconciled Those in slavery Those in debt In the way of Allah The destitute traveler

Why Zakaat?

Islam encourages employment, entrepreneurial activity, trade and the equitable distribution of wealth. For commerce to benefit society, Islam imposes several obligations on those involved in wealth creation. Amongst these is the obligation of Zakat, the third of five pillars of Islam. Scholars infer that the giving of Zakat has both an outer and an inner …

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When Zakaat paid?

Your Zakat year starts on the date your wealth first equaled or exceeded the Nisãb. Zakat is then payable after one lunar year has passed and every year thereafter on that date. Paying Zakat in Ramadhan is not necessary although giving charity in this month yields greater rewards.

What is Zakaat

Zakat is a compulsory act of worship that requires Muslims who own wealth at or over a certain threshold (called the Nisãb) to donate a portion of their qualifying wealth, typically 2.5%, to eligible recipients. It is a right the poor have over the rich. The Nisaab was set by the Prophet Muhammad (peace be …

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