Hello blessing to all,
many people like to give alms to charity and the less privilege regardless of their religion or faith, zakat is a form of alms to the poor and is one of the five pillars of Islam and also a mandatory to Muslims who meet the requirement to give out a minimum portion of their wealth to the poor, in many verses of the Holy Quran Allah has encourage Muslims to give out alms voluntarily for a higher reward, there are differences between zakat and other form of alms , with the zakat a Muslim must meet a requirement of his wealth or business to be able to give out a minimum portion of his / her annual net revenue and asset, the meaning of zakat in Islam is purifying your soul and wealth to remain clean and stable,
Many people may see zakat to be a form of tax, which is not, as I have already stated above a Muslim must meet a requirement (nisab)
nisab: is the exemption limit for the payment of zakat if a Muslim net yearly falls below this amount, he or she is exempted from paying zakat. Only those whose net capital exceed the nisab values are obligated to give zakat.
What is the nisab value?
The nisab amount are calculated based on the current value of 3 ounces of pure Gold. For 2016 the nisab values using the value of Gold are £2,572
What percentage of your capital should be given?
2.5% of all net saving one possesses that is above the nisab values. Net saving is a total maintained wealth for one lunar year
Who should be given zakat?
zakat is aimed at the poor and the less privilege, it could be a close relative in need, orphan or people with disabilities, if you found none of these options you can give it to any charity organization, the main aim is to help the needy acquire capital to have or start his or her own business and hopefully give out zakatto another brother in need, This is a clear benefit of giving out zakat which will help reduce poverty and hardship among Muslims
How should I calculate zakat?
In addition to cash, Gold, silver, investment, rent income, business merchandise and profit, shares and bond. Any of these must be taken into account when determining the zakat amount. Example if you own all these assets and the total sum is maintained for a lunar year, which is above the nisab value, you must give 2.5% to the poor, I hope you found these helpful
Stay blessed.
This comment has been removed by a blog administrator.
ReplyDelete