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Third Pillar Of Islam Zakat 2023

Zakat is the third pillar of Islam and a kind of wealth-based worship. However, Muslims must contribute a portion of their profits to the poor and needy once a lunar (Hijra) year when their earnings exceed a predetermined amount (called “Nisab”) over their requirements. Allah (SWT) commands Muslims in the second year of Hijra in the Holy Qur’an:

Zakat’s religious and spiritual aspects are more important than social and economic ones. It is important to society because it gives people a sense of brotherhood with those less fortunate and makes them feel they should make sacrifices for them. From an economic point of view, it discourages people from hoarding and concentrating their wealth and makes it easier for wealth to flow steadily and constantly from the rich to the poor. It is a good way to give the poor the ability to buy things, making their lives easier and helping them stand on their own two feet.

Zakat, is the third of the Five Pillars of Islam and is considered an essential aspect of the Islamic faith. It is a form of mandatory charitable giving and is typically 2.5% of a Muslim’s wealth. The money collected through Zakat is usually distributed by the local mosque or Islamic charity to those in need.

Zakat is calculated annually, and Muslims must calculate their Zakat each year. The zakat calculator is based on a person’s net worth, including savings, investments, and other assets. And it is given to specific categories of people known as “Asnaf”. These categories include the poor, the needy, the orphans, and the travellers.

It’s also important to remember that Zakat or sadaqah is not a voluntary act of charity that a rich person does for the poor out of the goodness of his heart. Instead, it’s a duty that every Muslim must do if he believes in God and the afterlife. So, the person who gets Zakat doesn’t have to do anything else, but the person who gives it feels thankful because he helped him meet his obligations to God and society.

The word “Nisab” literally means “threshold” or “limit” in Arabic. In the context of Zakat, the Nisab is the threshold of wealth that must be reached before an individual is obligated to pay Zakat.

Nisab meaning 

The Nisab is a specific amount of wealth considered to be the minimum amount a Muslim must possess before they are obligated to give Zakat. This is typically defined as the equivalent of 85 grams of gold, or 612.36 grams of silver, or the value of those in cash or assets. Once an individual possesses wealth equivalent to or greater than the Nisab, they are obligated to give 2.5% of their wealth as Zakat each year.

Zakat Al-Mal and Zakat Al-Fitr

Zakat Al-Mal 

Most Muslims say “Zakat” when they talk about Zakat Al-Mal. Zakat is the name of the tax that Muslims must pay every year on their money, gold, silver, and property. It takes into account all of your assets (total wealth). Each Muslim owes a different amount of Zakat Al-Mal because it is 2.5% of their total wealth at the end of the year. Zakat al Mal is only required of Muslims when they reach a certain level of wealth called nisab. If Muslims don’t make this much, they don’t have to pay Zakat Al-Mal.

Zakat Al-Fitr

Zakat al-Fitr, or the Zakat of Breaking the Fast of Ramadan, is a special charity that all Muslims must pay at the end of the holy month of Ramadan on the Islamic calendar. It is also called Sadaqat al-Fitr, which means “the Charity of Breaking the Fast” of Ramadan, and Zakat al-Fitrah, which means “the Charity of Human Nature,” because every Muslim, no matter their age or gender, must give it at the end of Ramadan.

Fitrah is the Arabic word for fast-breaking (iftar), the act of eating again after abstaining from this “natural” and defining human activity during Ramadan.

A Muslim’s Zakat-Al-Fitr contribution equals the cost of a festive feast. You should know that the impoverished, especially those in foreign nations, need to be transported to Zakat Al-Fitr to reach them on the day of Eid, when it will have the biggest impact.

It’s important to note that Zakat is not considered a tax but a form of worship and purification of one’s wealth. It’s also not considered a form of charity but rather an act of worship and a right for the poor. Muslims are encouraged to give Zakat with an open heart and not to begrudge the giving of it.

The month of Ramadan is considered to be a particularly important time for giving Zakat. During this month, Muslims focus on spiritual purification and self-discipline, and giving Zakat is an important aspect of this.

One of the key reasons that Zakat is considered particularly important during Ramadan is that it is seen as a way to purify one’s wealth. Muslims are encouraged to reflect on their blessings and to use this time to give back to those in need. Giving Zakat during Ramadan is believed to earn extra rewards from Allah (God), as it is the month of forgiveness and blessings.

Many Muslims also choose to give additional voluntary donations (sadaqah) during Ramadan in addition to their obligatory Zakat. This is seen as an act of extra devotion and generosity during this special month.

Furthermore, Muslims are encouraged to fast during Ramadan, which is seen as a way of empathising with the poor and needy. Giving Zakat during this month is a way to make a difference in the lives of others who may be struggling.

Overall, the importance of Zakat during Ramadan is rooted in the idea that this is a time of spiritual reflection and giving back to the community. Zakat is seen as an important aspect of this.

 

Uneeb Khan
Uneeb Khanhttps://hris.markplusinc.com/cgi-bin/file/
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