Zakat is the third pillar of Islam and is an act of worship. It denotes the amount of wealth a Muslim must pay to certain groups of underprivileged people.
It means “to purify”, so paying a portion of one’s assets to help those in need purifies all of a Muslim’s wealth and makes the wealth that has been gained pleasing to Allah (swt)
Zakat itself is neither a tax nor a charity but instead a compulsory act of worship stipulated by Allah (swt) which signifies the responsibility and duty the rich have towards the poor.
Zakat is a duty on each adult Muslim, of sound mind, if their wealth exceeds the value of Nisab.
To be eligible for Zakat payment you have to be Muslim, above the age of puberty and possess the amount of nisab.
If all of the above apply, you have to pay 2.5% Zakat on all of your savings and other applicable assets.
When you donate your Zakat with Global one, you can be sure that your donations will go towards supporting the most disadvantaged communities in Asia, Africa and the Middle East.
Muslims who own wealth or assets equal to or above a certain financial threshold (the nisab) are required to donate 2.5% of their wealth to those in need.
The Nisab is defined as 87.5g Gold or 625g Silver
As an mandatory act of charity, Zakat ensures that the poorest of society who lack basic essentials are protected from hunger and financial insecurity
Zakat benefits not only those in need who receive Zakat but also those who have given their wealth for the sake of Allah (swt). For every penny you donate as Zakat, you will gain endless rewards and a shared blessing.
Zakat is also an important spiritual act which cleanses our hearts against selfishness and greed
Zakat is due on:
There are various groups of people who can receive Zakat.
Allah (swt) has described in the Holy Qur’an (9:60) those who are entitled to receive Zakat as…
With our dedicated Zakat service, your donation will reach those most in need quickly and securely.
Zakat becomes only obligatory once a full lunar year has passed, providing that you’re qualifying wealth has been held for one whole year. Your Zakat year starts on the date your wealth first equalled or exceeded the nisab and should be calculated on that date for each subsequent year.
Many Muslims choose to pay their Zakat during the month of Ramadan as rewards for good deeds carried out at this blessed time are multiplied.
But it is a duty to pay Zakat when it becomes due and not delay the payment.
Wealth can fluctuate during the year, going above and below calculated nisab. Zakat is only due if wealth is in excess of nisab at the person’s Zakat due date.
You don’t have to do lots of complicated maths to work out your Zakat payment – simply go to our handy online calculator will do it for you based on your assets, savings, investments, goods, debts and loans.