What is Zakat & Nisab

What is Zakat & Nisab - Zakat & Charitable Foundation

What is Zakat?

is

not

an

arbitrary

handout

or

imposed

tax.

is

not

a

means

to

be

generous

–

it

is

what

Allah

has

ordained

for

us

–

it

is

a

duty

. In order to promote financial and spiritual reform, eradicate greed, and solidify the Islamic economy—all of which will contribute to the stability and prosperity of Muslims—Zakat has been established as one of the pillars of Islam.

According to the Qur’an : Zakat is a way to obtain Allah’s mercy.

is

the

fourth

pillar

of

Islam,

after

Salat

and

Som.

Muslims

possess

a

specified

minimum

amount

of

wealth

(called

nisab)

for

the

entire

yearly

cycle

and

are

required

to

pay

Z

akat

for

prayers.

What is Nisab?

What

is

the

Nisab

threshold?

The

Nisab

value

is

the

minimum

threshold

required

of

a

person

eligible

to

pay

in

that

particular

year.

To

be

eligible

to

pay

zakat, One must have nisab value equal to or greater than in your overall wealth , which is defined as the equivalent of:

Either 87.48 grammes (7.5 tola) of gold or, 612.36 grammes (52.5 tola) of silver.

Who is eligible to receive Zakat?

1. The Poor (al-fuqara) means low income or extreme poverty.

2. The Needy (al-masâkîn) means a person in need.

3. Those Employed to Administer of the zakat.

4. People whose hearts have been (recently) reconciled (to Truth).

5. People in bondage (slaves and captives).

6. The Obligated.

7. In the cause of Allah.

8. Travelers; those who are stranded or traveling with few resources.

Let’s Connect

zakatcharitablefoundation@gmail.com

+918528778878

Zakat and Charitable Foundation

A/c No: 50200067957289

IFSC Code:HDFC0009378

Bank Name: HDFC BANK

Branch: Subhash Marg , Lucknow-226003