Zakat
What is Zakat?
Zakat is one of the Five Pillars of Islam and is an obligatory act of worship. It is a fixed percentage (2.5%) of one's wealth that must be given to those in need. Zakat purifies wealth and helps redistribute resources to support the less fortunate in society.
Who Must Pay Zakat?
Zakat is obligatory for every adult Muslim who:
- Is of sound mind
- Owns wealth above the Nisab threshold
- Has held that wealth for a full lunar year
The Nisab Threshold
The Nisab is the minimum amount of wealth one must possess before Zakat becomes obligatory. It is equivalent to the value of 85 grams of gold or 595 grams of silver at current market prices.
Who Can Receive Zakat?
According to the Quran, Zakat can be given to eight categories of people:
- The poor (Al-Fuqara)
- The needy (Al-Masakin)
- Those employed to collect Zakat
- Those whose hearts are to be reconciled
- Those in bondage (slaves and captives)
- Those in debt
- In the cause of Allah
- The wayfarer (traveler in need)