What is Zakah:
Obligatory payment made annually under Islamic law on certain kinds of property and used for charitable and religious purposes.
Zakat, the giving of alms to the poor and needy, is one of the five pillars of Islam (the others are declaration of faith, prayer, fasting in Ramadan and Hajj). It is obligatory upon every adult Muslim of sound mind and means.
The individual must own a specific amount of wealth or savings (after living costs, expenses etc). This is referred to as Nisaab and is the threshold at which Zakat becomes payable. The amount of Zakat to be paid is 2.5% of Nisaab .
Why do we give Zakat?
Zakat is not charity, It is not voluntary charity not a tax but an obligation. By giving Zakat, a Muslim is acknowledging that everything we have is Allah’s and we do not really own it, and we should use it to remember Allah and help those who are in need. It is also an act to help free us from excessive desire and greed, learn self-discipline and honesty.
he Meaning and Purpose of Zakat
The literal meaning of Zakat is ‘to cleanse’ or ‘purification’. In the Islamic faith, Zakat means purifying your wealth for the will of Allah SWT; to acknowledge that everything we own belongs to Allah SWT and to work towards the betterment of the Muslim Ummah. According to Islamic regulations, Zakat is 2.5% of one year’s total cumulative wealth. This amount is then distributed to the poor. Prophet Mohammad (PBUH) has said “Whoever pays the zakat on his wealth will have its evil removed from him” (Ibn Khuzaimah and at-Tabaraani).