Zakat Rules, Ok!
What's Zakat got to do with Ramadan?
What is Zakat?
Why give Zakat?
Who gives Zakat?
What is nisab?
Must I have the intention for Zakat when I give it?
Can I give my Zakat in advance?
What counts towards my wealth?
Do I deduct debts/expenses from my wealth?
Whom should my Zakat go to?
Give your Zakat
Is there anything else I need to know?
What's Zakat got to do with Ramadan?
Many Muslims choose to give their Zakat in Ramadan rather than at other times of the year. They do this because good deeds receive more reward during the month of Ramadan. Also, Zakat is due each year… Given that the Islamic lunar year is shorter than a solar year, and that many Muslims find it hard to keep track of the Islamic date, it's easy just to remember to give Zakat in Ramadan.
What is Zakat?
Zakat (or Zakat-ul-Mal) is an obligatory charity. It generally equals 2.5% of the wealth someone has owned for a full year.
Why give Zakat?
Aside from being one of the pillars of Islam, Zakat is good for you. It comes from the Arabic word for "purification" - by giving your Zakat you purify the remaining 97.5% of your wealth. Also, Zakat has an important social role. It helps the needy, creates a fairer society, and nurtures fellowship between Muslims.
Who gives Zakat?
Sane Muslim adults whose wealth is more than the Nisab.
What is Nisab?
The value of Nisab in gold is 3oz, which is currently worth nearly £1,000.
Must I have the intention for Zakat when I give it?
Yes. If you give money as charity, but without specifically intending it to be Zakat, then you cannot later count it as your Zakat.
Can I give my Zakat in advance?
Yes. It can be difficult to figure out how much wealth you've owned for a full year. Thankfully, Islam allows people to pay Zakat in advance. Just make sure you are clear about that in your intention. N.B. If you fall below the Nisab level during the year, but rise above it again, you would still give Zakat.
What counts towards my wealth?
Your wealth includes cash, savings, shares, and other investments. If you've loaned someone money and you expect them to repay it, then that also counts as part of your wealth. (Although is someone owes you money for some other reason, it only counts as part of your wealth when you receive the money).
Do I deduct debts/expenses from my wealth?
You may deduct imminent living expenses, such as the bills you need to pay that month, from your wealth. Likewise you can deduct debts that you are due to pay back. Note that for large debts that you pay in instalments, you'd only deduct the instalment due, not the full debt.
Whom should my Zakat go to?
The general purpose of Zakat is to help fellow Muslims who are in need. However, there are certain people that Zakat money cannot help. These include descendants of the Holy Prophet (pbuh), your immediate relatives, and mosques. For this reason, it's a good idea to give your Zakat to a trusted charity like Islamic Relief - which will distribute your Zakat in accordance with Islamic principles.
Give your Zakat
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Is there anything else I need to know?
The information above presents basic rules that deal with the relevant issues for most people. However, Zakat has rules for things such as livestock to investment properties too. If you think you need more-detailed guidance, please contact a scholar you follow. Or, you can click here