• Knowlegde - Zakat
  • Zakat is one of the five pillars of Islam next in importance to Solat (daily prayers) after...

About Zakat

Zakat is one of the five pillars of Islam next in importance to Salat (daily prayers) after the Shahadah (declaration of faith). In fact, it is mentioned more than 28 times in the Quran along with Solat (daily prayers); while Sawn (fasting during Ramadhan) and Hajj (pilgrimage to Makkah) stands as the fourth and fifth pillars respectively.

Zakat is annual financial duty, which begins and ends with a clearly stated cycle of a full Hijrah Calendar. The payment is 2.5% of wealth equal to or greater than the NISAB. Allah says: "Take alms of their wealth, wherewith thou mayst purify them and mayst make them grow, and pray for them…”Q3 vs 109

Umar bn al-Khattab (RA) said: "I heard the messenger of Allah say, "Islam has been built upon five things - Testifying that there is no god save Allah, and that Muhammad is His Messenger, perform Salah; give Zakat; Hajj to the House of Allah; and Sawm (fasting during Ramadhan)

Wealth or asset on which zakat is payable NISAB (Minimum Possession) Rate of Zakat

Gold, silver or ornaments

85 grams of gold or 595 grams of silver

2.5% of the value

Cash in hand, Stocks, bonds, trading goods or any other liquid asset

Amount equivalent to 595 grams of silver or 85 grams of gold

2.5% of the amount

Agricultural produce

5 Wasaqs (1,200mudds of grains) 653kg per harvest

5% of the produce of irrigated land. 10% in the farm of non-irrigated land 7.5% partially irrigated land

Product of mines / exploration of natural resources

Any amount

20% of the value

Camels

5 Camels

1 sheep or goat

Cows

30 Cows / 40 Cows

1 year old cow / A 2yr old cow

Goats

40 goats

1 goat

Specialized business (Transportation / school / Logistics)

Net profit equivalent to or greater than 85 grams of gold or 595 grams of silver

2.5% of the amount

Professional Fee (i.e consultancy, auditing etc)

If fee collected is equivalent to or greater than 85 grams of gold

2.5% of the amount

Landed property if the intention is for commercial use

If worth is equivalent to or greater than 85 grams of gold

2.5% of the value

Contract, gift and Salary arrears

If worth is equivalent to or greater than 85 grams of gold

2.5% of the value

  • NAZAS: Empowering the Poor with Cash, Tools - https://twitter.com/nasfathq/status/934670027906830336
  • NAZAS: Empowering the Poor with Cash, Tools - https://twitter.com/nasfathq/status/934670027906830336
  • NAZAS: Empowering the Poor with Cash, Tools - https://twitter.com/nasfathq/status/934670027906830336
  • NAZAS: Empowering the Poor with Cash, Tools - https://twitter.com/nasfathq/status/934670027906830336