With the month of fasting Ramadan In his last days, many Muslims around the world are preparing to achieve another essential column for their faith – giving zakat.

Zakat is a mandatory form of charity in Islam, aimed at supporting the needy and enhancing economic equality.

In this visual explanation, we answer seven common questions about zakat to help you understand the purpose, accounts and benefits.

What is zakat and its sixth?

Zakat is one of the five pillars of Islam, which makes it a basic work for worship. The word Zakat means purification or growth and is established in the Qur’an as a means of purifying wealth, promoting social justice and helping those in need.

Zakat Comparying to Muslims who benefit from the financial threshold, known as NISAB, and it is presented annually with a fixed percentage of 2.5 (one to 40) of the individual’s wealth. More about how to calculate it, later.

Charity, On the other hand, it is a voluntary charity for any amount that can be provided at any time.

Who is required to give zakat?

Zakat is mandatory for adult Muslims whose wealth exceeds the NISAB threshold, which is the minimum amount required to be eligible to pay zakat.

NISAA is equivalent to 85 g (3 ounces of gold) of gold, or about 9,000 dollars based on current market prices.

In addition to the golden standard to determine the amount of NISAB, there is also a silver standard. Silver NISAB equals 595 g (19 ounces recreation) of the metal. This accommodates the various economic conditions and ensures that zakat is accessible and related to a wide range of people.

If a Muslim’s wealth remains above this threshold for the full lunar year, they must pay zakat.

What are the different types of zakat?

There are two main types of Zakat: Zakat Al Mulla and Zakat Al Fitr.

Zakat al-MalIn the sense of “zakat on wealth”, it is the most common form of zakat. It is an obligation that requires Muslims whose wealth exceeds the NISAB threshold to donate by 2.5 percent of their assets annually.

Zakat al-Fitr It is the mandatory charitable donation of food before the Eid prayer, on the occasion of the end of Ramadan. It is given to help those in need to celebrate the feast. The amount is generally equivalent to the cost of one meal for a person.

What are the assets that are zakatable?

Zakat must be paid on assets and savings, and kept to resell or benefit from, including:

also Not On the assets used in daily life, such as:

How is Zakat calculated?

The standard zakat rate is 2.5 percent (from one to 40) of an individual’s qualified wealth.

For example, if an individual’s wealth is vulnerable to Zakat $ 10,000, the amount due is $ 250 (10,000 dollars x 2.5 % = $ 250).

Who can one receive zakat?

Zakat is designed to help reduce poverty and support less fortunate. Therefore, Muslims who meet the criteria of need and a lack of wealth must be given. The Qur’an defines eight categories of people who are qualified to receive zakat:

1. the poor – Those who have little or non -income
2. The needy – Those who have some resources but not enough for a stable life
3. Zakat officials Individuals or organizations responsible for collecting and distributing zakat
4. New Muslims Transformations or those who tend to Islam who need financial support
5. People in debt – Those who walk with debts that they cannot pay
6. Travelers were cut off – Those who lack financial support while moving away from home
7. People work in luxury Individuals who participate in religious, educational or humanitarian efforts
8. Prisoners and slaves Historically, it is used to liberate slave people; It now applies to modern equations such as slave work

Zakat cannot be granted to the direct family members who consider a person’s financial responsibility (such as parents, children or husbands). It cannot be given to those who have a wealth above the niba threshold as well.

When should Zakat be paid?

While many choose to pay zakat during Ramadan to obtain its spiritual rewards, it can be provided at any time within a year.

Once a Muslim’s wealth exceeds the NISAB threshold, they have to push zakat, provided they have this wealth for the full lunar year (known as HaWL).

For example, if a person’s wealth remains above the NISAB threshold for a whole year, it is obligated to pay zakat.

However, if the wealth decreases to less than NISAB during the year, then there is no need to pay zakat.

For example, if a person’s wealth exceeds several months but then decreases before that before completing a whole year, they are not asked to pay zakat. Only when their wealth remains above NISAB for the continuous lunar year, the commitment arises to pay zakat.

If someone misses pay zakat in previous years, he must calculate and pay it retroactively.

Zakat can be given directly to those in need or through charitable societies and reliable organizations that distribute it accordingly. Although he is encouraged to help close people, he can also be granted internationally as there is a greater need.

By asking wealthy individuals to give part of their origins, zakat prevents wealth from accumulating in the hands of a few and encourages more fair distribution of resources, enhancing economic balance and reducing income inequality.