Zakat and Bitulmaal should work together A Great step forward
Zakat and Bitulmaal should work together A Great step forward
‘You shall observe the Salah and give obligatory charity (Zakat) and bow dow with those who bow down (Holy Quran 2:43). Allah (ST) exzhorted to pay zakat at amy place in the Holy Quran. Zakat purifies and safeguards wealth of the giver as fasting in Ramzan month purifies one’s health.
Zakat is the thirdpillar of Islam and it’s the greatest game changer in the history of mankind because no other faith advocates such an amazing charitable obligation towards needy and poor brethern.
To who Zakat is payable?
Zakat should be edistributed to the poor, needs, thoe who are in debts, wyfarers, pisoners, in the cause of Allah (ST) and those who reverted to Islam.
No doubt that The Holy Quran is Allahs Subhanahu taala’s Miracle book for the entire mankind the holy Quran exhorts to pay zakat in 30 places, The holy Quran made Zakat an important ibada after salah, Zakat is one of the five pillars of Islam. Zakat is the largest donation in the world, it may be paid in cash o kind.
Zakat was estimated to be around 3 trillion $ this doesn’t include sadka around 1 trillion $ in muslim world annually. Its really amazing how Allah Subhanahu taal has made zakat obligatory on walthy muslims that has huge potential to sustain the lives of poor muslims across the world.
Who is to pay Zakat?
An adult muslim with sound mind and possesses minimum wealth in the form of cash or kind called Nisab
Things on which zakat is to be paid
A
Cash at home / bank
Gold and silver
Property other than home
Pensions
Shares
Other investments
Money owed to you
Business |Value
B
Unpaid debts
Business Debts
Zakat = A-B
What is Zakat NISAB
Zakat is to be paid on wealth rather than on income and things that are being used by the person like personal accommodation. If a person owns a home he has to pay zakat on the actual current value of the house(owned for investment purpose) and not on the rent collected.
Benfits of Paying zakat monthly
Monthly Zakat would be a great boon to the Muslim Society both for the giver and the receiver. Poor would benefit every month and so is the other institutions like, Madrasas, schools, orphanages, old-age homes etc. we aware these days people pay Income Tax spanning over 11 months in order to reduce their burden on finances at the end of fiscal year, particularly salaried class, same thing can be applied to Zakat
Zakat Nisab (Criteria to calculated the amount of zakat payable)
In zakat is calculated, based on the current value of 612.4 grams of silver or 87.5 grams of gold. If a Muslim owns wealth in cash or kind more than the nisab, the person is liable to pay zakat on the excess wealth. If a person owns precious wealth that incudes diamonds, platinum etc, some scholars if the weight of mixed ornaments is half or more, however zakat is emempted on the ornaments worn by women.
Conclusion
When paying Zakat please ensure the the Zakat will be used to support the poor, towards improving/supporting education, to improve health , environment and food security.
Working out how much Zakat to pay and how to pay it can be sometimes difficult and for that reason, we have created this short guide. We’ve broken down some of the most common questions and cleared up the main misconceptions about Zakat.
While you’re here, you can also use our Zakat calculator or read our Zakat policy.
What is Zakat and why is it important to me?
‘You shall observe the Salah and give the obligatory charity (Zakat), and bow down with those who bow down.’ (Qur’an 2:43)
Dear Bothers and Sisters your donation could turn poor Muslim students into IAS officers, executives, entrepreneurs, businessmen and future donors and Zakat givers.
Donate Generously.
May ALLAH ST bless his bounties upon you, your families and well wishers, AAMEEN.
