Zakat: It is the fourth pillar of the Islamic belief system and it refers to the kind of worship that involves one’s wealth. Hence, it is a compulsory duty for every Muslim to pay zakat once a year according to the lunar Islamic year. It is a portion of one’s wealth that one earns in a year to give away a specific part of it to the poor and needy people of society. The prescribed amount for paying zakat is known as “Nisab”, which is above their needs. It is a kind of Islamic finance system.
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What does zakat mean?
The word Zakat is an Arabic word that is derived from “Zakah”. Hence, it means “to purify, to clean, growth, blessings”. Further, only 2.5% of your total wealth has to be given away to the people, which come under the eight categories, mentioned in the holy Quran. However, to understand each perspective of religion, one must learn the Holy Quran. However, to fulfill this duty, one can learn Quran online with Tajweed and Tafseer.
Key points of Zakat
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- The people who meet the requirements for paying Nisab are eligible for paying.
- Before paying Zakat, one must sustain their wealth for the whole Islamic year.
- It must be paid with pure intentions, purely for the sake of Allah almighty.
- One can pay Zakat at any time of the whole year.
Categories of people eligible for accepting zakat
Fakir: Those people who live in poverty.
Miskin: Those people who are hungry and have no food to eat.
Amil: Eligibility for accepting zakat, like charity.
Riqab: Those people, who live in slavery.
Gharmin: Those people who have debts.
Fisabilillah: Those people who act in the name of Allah almighty.
Ibnus-Sabil: Those people who are traveling and short of money or without resources.
Muallaf: Those people who are newer to accept religion, Islam.
Virtues of paying Zakat
Paying Zakat results in earning lots of blessings from Allah almighty and have a positive effect on society. Are online Quran teacher qualified? Live Quran for kids and adults, facilitates you with the world’s best experienced and professionally trained online Quran teacher for online Quran classes.
- It helps to improve and maintain the economy of the community, as it is the source of blessings from Allah SWT for the giver and taker.
- It is beneficial for the unprivileged people of the community.
- It decreases inequality among the people of different groups in society.
- It removes the economic hardships for poor people in society.
Types of Zakat
What is the second name of Zakat? In the Quran and Hadith, another word used for Zakat is “sadaqah” which is derived from the Arabic word “Sidq”, which means truth. One may take help from an online Quran teacher for learning more about the zakat subject. The following are the two types of Zakat
It is compulsory for every Muslim, which one can pay in the holy month of Ramadan, before the festive of Eid-ul-fitr. However, it is an obligatory duty though, it must be paid by those who are economically stable and have enough wealth
It is another type of Zakat, which is applied to one’s assets for example gold, money, and rented, or owned assets. There are certain conditions that include that. The asset should be a Halal source and must purchase for a period of one year.
Zakat for income
It is the type of Zakat, in which one pays for the income of his total earnings, which equals 2.5% almost, either through the company or having own setup for earning. However, one can take help to calculate Zakat for their assets or income, with the help of an online Quran teacher. Therefore, learn Quran online via online Quran classes is proving to be very helpful for learning every aspect of the Quran and Islam.