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According to Allah (SWT), the word “zakat” comes from the Arabic word “to purify.”
“A man’s true wealth is the good he does in this world”
In Islam, zakat is the concept of obligatory charity. It is how we give back to less fortunate people with our resources. Realizing that one’s wealth is a gift from Allah (SWT) and giving some of it away to others removes greed and miserliness from the rest of one’s wealth. People must keep the Zakat tradition alive in a world with a lot of social and economic inequality.
Zakat donations are a gift given to the impoverished by the wealthy. It is the responsibility of every able individual to fulfill this responsibility toward those less fortunate. Over the years, we have used zakat to provide food and water to the most vulnerable people. We used it to help poor villages, giving people the means to improve their living conditions and meet their basic needs. We’ve used it to provide emergency medical care and shelter to people in conflict zones.
Who May Receive Your Zakat?
Those in debt
In the way of Allah
What is a Zakat calculator?
Zakat on gold
Zakat is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to 3 ounces of gold, is the minimum amount of wealth one must have before they are liable to pay zakat. *As of April 28, 2017, nisab is estimated to be $3,587.79. Zakat is liable on gold, silver, cash, savings, investments, rent income, business merchandise and profits, shares, securities and bonds. Zakat is not paid on wealth used for debt repayment of living expenses such as clothing, food, housing, transportation, education, etc.
Using credit card to pay for zakat
Please consider adding 2% when using Visa and Mastercard, and 2.5% when using American Express to your total zakat donation—this will compensate for any transaction fees deducted from your donation by the credit card companies, and will ensure that your intended zakat amount is paid in full.
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