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Zakat spending as per Holy Quran on 8 categories of people Silver or gold coinage is one way of granting zakat. Zakat (or Zakāh) is one of the five pillars of Islam. Zakat is the Arabic word for "Giving to Charity" or "Giving to the Needy". [a] [3] Zakat is a form of almsgiving, often collected by the Muslim Ummah. [1]
Zakat is based on income and the type and value of one's assets/possessions [13] [14] above a minimum amount known as nisab. [7] [Note 1] The Quran does not provide specific guidelines on which types of wealth are taxable under the zakat, nor how much is to be donated, and Islamic scholars differ on how much nisab is and other aspects of zakat ...
Tawhid, "Oneness of God". Salah: Unlike Sunni and Twelver Muslims, Nizari Ismailis reason that it is up to the current imām to designate the style and form of prayer. Zakat: with the exception of the Druze, all Ismaili madhhabs have practices resembling that of Sunni and Twelvers, with the addition of the characteristic Shia khums.
Zakat is obligatory when a certain amount of money, called the nisab (or minimum amount), is reached or exceeded. Zakat is not obligatory if the amount owned is less than this nisab. The nisab of gold and golden currency is 20 mithqal, or approximately 85 grams of pure gold. One mithqal is approximately 4.25 grams.
To be more precise, Zakat is defined as a determined percentage of one's acquired property or profit for the year that is paid to the needy who is described by Quran the poor, those who collect the zakat, those whose hearts are to be reconciled to Islam, captives, those in debt, those who are fighting for Allah, and travelers. [9]
As-Sadaqat (zakat) are only for the Fuqara' (the poor), and Al-Masākīn (the needy) and those employed to collect (the funds); and to attract the hearts of those who have been inclined (towards Islam); and to free the captives; and for those in debt; and for Fi sabilillah (Allah's cause), and for Ibn As-Sabil a duty imposed by Allah. And Allah ...
In Islam, zakat is a form of compulsory alms-giving, and a religious obligation for those Muslims who are financially affluent. [37] They are required to pay one-fortieth (2.5%) of their total income or money each year to those Muslims who are poor and helpless.
In traditional Islam, giving zakat is a religious duty and amounts to 2.5 percent of the annual income. The Quranists give zakat based on the Quranic verses. In the opinion of many Quranists, zakat must be paid, but the Quran does not specify a percentage because it does not appear explicitly in the Quran. [44]