What is Zakat Al-Maal
Zakat (or Zakat Al-Maal) is a form of almsgiving and one of the Five Pillars of Islam. As a religious duty for all Muslims who meet the necessary criteria of wealth, Zakat is 2.5% of one’s wealth given out once a year to help the poor and needy and has many benefits for the individual and society at large.
“And establish prayer and give Zakat, and whatever good you put forward for yourselves – you will find it with Allah.” (Qur’an, 2:110)
ALF treats Zakat and all donations as a trust (Amanah).
Use our Zakat Calculator to easily work out how much you need to pay!
Who is must pay zakat
Every adult Muslim who meets the requirements of nisab and hawl in a calendar year must pay zakat for that year. There are some conditions that may require others, a wali (guardian) of a minor for instance, to pay zakat too. As always, it is best to consult with your local imam or scholar for clarification.
When should I pay zakat?
It should be paid as soon as possible prior to or at the time that you’ve earned the requisite amount of nisab each lunar year, or one year after you last paid it. Tip: A good way to ensure zakat is made in a timely fashion is to pay it during Ramadan.
What is Nisab?
Nisab is an Arabic (meaning Threshold) that refers to the minimum amount of wealth one must have before they are liable to pay Zakat on their wealth. The Nisab was set by Prophet Muhammad (PBUH) at a rate equivalent to either 3 ounces of gold or 21 ounces of silver.