ZAKAT
Zakat is a sacred obligation and a pillar of Islam. It is more than an act of charity; it bridges the gap between the fortunate and the deprived, allowing those with wealth a chance to purify it and help the needy. This welfare-sharing among those in despair makes Zakat one of the most beloved acts near Allah (S.W.T).
The one who pays Zakat, it is as if they have freed a slave’. [Bukhari]
Who are the
Eligible Recipients?
- The poor
- The needy
- The destitute
- Those in debt
- Travelers
How to Calculate the
Zakat amount?
The calculation of the Zakat amount depends upon assessing your viable assets. Eliminating the amount of debt you have and the possessions that are currently in use. The remaining 2.5% of the assets should be calculated for the Zakat donation. Zakat Calculators serve as a great source.
Calculate Your Total Assets: Cash in hand, bank accounts, investments, gold and silver, and other Zakatable assets.
Deduct Liabilities: Subtract any debts or immediate liabilities from your total assets to determine your net assets.
Apply the Nisab: If your net assets exceed the Nisab threshold (the equivalent value of 3 ounces/85 grams of gold or 21 ounces/595 grams of silver), you can pay Zakat.
Calculate 2.5%: Finally, calculate 2.5% of your net assets exceeding the Nisab. This amount is your Zakat payment.
It’s important to note that specific rules may apply depending on the nature of your assets, such as business inventory, agricultural produce, or livestock, and it’s advisable to consult a knowledgeable source or use a Zakat calculator for accurate assessment.
By following these steps, you can determine the amount of Zakat you are obliged to pay, ensuring you fulfill this key pillar of Islam responsibly and effectively contribute to the welfare of those in need.
How to donate
Your Zakat?
One of the most beneficial and convenient ways to donate your Zakat is through a reliable organization. It frees you from doubting whether your donation reaches the most deserving source. This step ensures the betterment of millions of people benefitting from this great cause.
Muslim Community Center is a beacon of hope and your trusted partner in ensuring that your Zakat directly benefits the Muslim community.