Pay Your Zakat “وَأَقِيمُواْ الصَّلاَةَ وَآتُواْ الزَّكَاةَ”…
Pay Your Zakat
“وَأَقِيمُواْ الصَّلاَةَ وَآتُواْ الزَّكَاةَ وَارْكَعُواْ مَعَ الرَّاكِعِينَ”
“And be steadfast in salah(prayer), and pay Zakat, and bow down with those who bow down”. (Al – Baqarah 2:43)
“In their wealth there is a known share for the beggars and the destitute”. Quran [70:24-25]
WHAT IS ZAKAT?
Zakat, meaning to purify, is the third pillar of Islam. It denotes the amount of wealth a Muslim is obligated to pay to categories of underprivileged people if their annual wealth exceeds a specific amount.
Zakat is an obligation upon any Muslim who has reached puberty, is sane, and has above the minimum required amount of wealth (Nisab). It requires giving a calculated amount (usually 2.5%) to the poor and needy.
Every sane, adult Muslim whose wealth exceeds the value of Nisab, must pay Zakat. Muslims truly little or no income, who are new to Islam, in debt, stranded whilst travelling, working in the cause of Allah or in bondage, in addition to those who administer Zakat, are all entitled to receive Zakat.
The value of the Nisab in prophetic tradition is 7.5 Tola (87.45 Gram) of pure gold or 52.5 Tola (612.15 Gram) of pure silver. so, the monetary value of the Nisab will vary according to current prices of Gold & Silver.
WHAT IS ZAKAT PAYABLE ON?
Zakat should be calculated and paid on any surplus wealth that you have owned for at least one lunar year. This includes:
● Gold, silver, precious metal, including ornaments/jewelry containing gold/silver.
● Stocks and shares.
● Money you have lent to others.
● Cash in bank accounts, committees or at home.
● Any business stocks.
● Agricultural produce and livestock (cows, chickens, goats etc.).
● Pensions.
● Property you own for investment purposes.
The easiest way to calculate your Zakat is to find out the monetary value of each type of wealth and then work out 2.5% of the total sum.
WHO ARE THE RECIPIENTS OF ZAKAT?
In the Holy Qur’an (9:60), the people who have the right to receive Zakat and legal uses of Zakat are described by Allah (swt).
● The poor: Those who have no income.
● The needy: Those who may have income, but it is less than they need.
● Distributors of Zakat: Those who identify the destitute and handle Zakat.
● Sympathizers: Those who might enter or who have already entered Islam.
● Freeing slaves: Used to ransom a slave.
● Debtors: Those unable to pay off a debt.
● struggling for the sake of Allah (swt): Used to benefit humanity and convey the message of Islam.
● Travelers: Those travelling and in need.
WHEN IS ZAKAT DUE?
Passage of One Lunar Year (Qamri Saal)
Zakat is obligatory after a time span of one lunar year passes with the money in the control of its owner. Then the owner needs to pay 2.5% (or 1/40) of the money as Zakat. (A lunar year is approximately 355 days).
Zakat & JIIU Akkalkuwa
At Jamia, we take the responsibility of handling Zakat extremely seriously. We understand that paying Zakat is not simply an act of charity – it is an act of worship. your donation will reach those most in need, both quickly and securely according to the commandments of the Holy Qur’an.
Throughout the year and most particularly during the month of Ramadan, Jamia receives generous donations designated as Zakat. Zakat principally serves as the welfare of poor and deprived people & Madrasa students in need.
Our online resources will help you calculate and decide how best to spend your Zakat through one of our many Zakat eligible projects like Enabling, caring & feeding poor families in need , supporting widows, caring orphans , providing education to poor students especially Hafiz, Alim & Diniyaat students (Boys & Girls) in Jamia & in its branches.
Our Zakat eligible Projects will help donors who want to give from their wealth to poor fulfilling their religious requirements.