Zakat

What is Zakat?

Zakat (زكاة), or almsgiving, is one of the five pillars of Islam, along with prayer, fasting, pilgrimage (Hajj) and belief in Allah (SWT) and His Messenger, Prophet Muhammad (SAW). For every sane, adult Muslim who owns wealth over a certain amount – known as the nisab – he or she must pay 2.5% of that wealth as Zakat.

and those in whose wealth there is a recognised right, for the needy and deprived

What is the Nisab?

The nisab is the minimum amount of wealth a Muslim must possess before they become eligible to pay Zakat. This amount is often referred to as the nisab threshold.

Gold and silver are the two values used to calculate the nisab threshold. The nisab is the value of 87.48 grams of gold or 612.36 grams of silver.

How Zakat effects the world:

Zakat is not just a fundamental pillar of Islam. It is also a revolutionary concept with the potential to ease the suffering of millions around the world.

Picture this: if just the ten richest people in the world paid Zakat – that would be a staggering £7.7 billion! The power of that money in tackling poverty would be huge.

And be steadfast in prayer and regular in charity: And whatever good ye send forth for your souls before you, ye shall find it with Allah

Whats is the Fitrana?

Fitrana is a charitable donation of food that is given before Eid prayer, therefore it must be given before the end of Ramadan. Fitrana must be given by every self-supporting adult Muslim who has food in excess of their needs, on behalf of themselves and their dependants.

How much is Zakat?

Your Zakat donation should amount to 2.5% of your total wealth. Therefore, if your total assets (after any debts owed) amounted to £10,000, you would pay £250.

Who can receive Zakat?

There are eight categories of people who are eligible to receive Zakat.

  1. The poor
  2. The needy
  3. Administrators of Zakat
  4. Those whose hearts have been recently reconciled
  5. Those who have been enslaved
  6. Those in debt
  7. In the cause of God
  8. Travellers (including refugees)

A poor person is someone whose property, in excess of his basic requirements, does not reach the nisab threshold. The recipient must not belong to your immediate family, therefore; your spouse, children, parents and grandparents cannot receive your zakat. Other relatives, however, can receive your zakat.