Who is zakat payable to

Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Zakat is an Islamic finance term referring to the obligation that an individual has to donate a certain proportion of wealth each year to charitable causes.

Zakat is a mandatory process for Muslims and is regarded as a form of worship. Giving away money to the poor is said to purify yearly earnings that are over and above what is required to provide the essential needs of a person or family.

Zakat is one of the Five Pillars of Islam, the others being declaration of faith, prayer, fasting during Ramadan, and the Hajj pilgrimage. It is a compulsory procedure for Muslims earning above a certain threshold and should not be confused with Sadaqah, the act of voluntarily giving charitable gifts out of kindness or generosity. Religious texts offer comprehensive descriptions of the minimum amount of zakat that should be distributed to those less fortunate.

It generally varies, depending on whether wealth came from farm produce, cattle, business activities , paper currency, or precious metals , such as gold and silver. Zakat is based on income and the value of possessions. The common minimum amount for those who qualify is 2. Zakat is often paid out at the end of the year once calculations on any leftover wealth are made. Recipients are the poor and needy, struggling Muslim converts, enslaved people, people in debt, soldiers fighting to protect the Muslim community, and those stranded during their travels.

The collectors of zakat are also compensated for the work they do. Are you eligible to pay Zakat? Please scroll down to our calculator. Enter all assets that have been in your possession over a lunar year in the boxes below.

Your current assets are worth. The value of your payable Zakat is. Become a subscriber to our email newsletters for the latest news and updates. Search Human Relief Foundation. Who has to pay Zakat? Conditions that make Zakat obligatory Zakat is obligatory if an individual possesses wealth to the value of the Nisab minimum threshold.

Conditions for Zakat to be obligatory on wealth: Complete ownership The wealth has the ability to grow and increase The wealth has reached the Nisab A whole lunar year passes after possessing the Nisab Zakat is meant to help relieve the poor without impoverishing the rich; once you have reached the Nisab threshold you are only required to give 2. Your Questions My daughter is 9 years old and she has received gold gifts over the years.

Do we need to pay Zakat on this amount? Related articles. Distribution, General. When is my duty to pay Zakat discharged?