In the name of Allah, the Most-Merciful, the All-Compassionate
"May the Peace and Blessings of Allah be Upon You"
Praise be to Allaah, we seek His help and His forgiveness. We seek refuge with
Allaah from the evil of our own souls and from our bad deeds. Whomsoever Allaah
guides will never be led astray, and whomsoever Allaah leaves astray, no one
can
guide. I bear witness that there is no god but Allaah, and I bear witness that
Muhammad is His slave and Messenger.
Bismillah Walhamdulillah Was Salaatu Was Salaam 'ala Rasulillah
As-Salaam Alaikum Wa-Rahmatullahi Wa-Barakatuhu
Zakat is one of the five pillars of Islam.
It has been mentioned, along with daily Prayers (Salaat / Namaz), over seventy
times in the Quran.
Allahs word commanding ".....and establish regular Salaat and GIVE regular
Zakat....." are referred to in many parts of the Quran.
>From this we can conclude that after Salaat, Zakat is the most important act
>in
Islam.
Just as Salaat is the most important act of worship which has to be performed
bodily, so is Zakat the main act of worship which has to be performed
monetarily. Those who fulfill this duty have been promised abundant reward in
this world and hereafter.
Whoever evades Zakat has been sternly warned in the Quran and Hadith of the
consequences.
Linguistically, ZAKAT has two meanings: purification and growth. Technically,
it means to purify ones possession of wealth by distributing a prescribed
amount to the poor, the indigent, the slaves or captives, and the wayfarer.
There are many major benefits of giving Zakat:
* It reminds Muslims of the fact that whatever wealth they may possess
is due
to the blessings of Allah and as such it is to be spent according to the His
commands.
* Zakat functions as a social security for all. Those who have enough
money
today pay for what they have. If they need money tomorrow they will get what
is
necessary to help them live decently.
* Zakat payer pays his dues to Allah as an act of worship, a token of
submission and an acknowledgment of gratitude. The receiver of Zakat receives
it as a grant from Allah out of His bounty, a favor for which he is thankful
to
Allah.
* Economically, Zakat is the best check against hoarding. Those who do
not
invest their wealth but prefer to save or hoard it would see their wealth
dwindling year after year at the rate of the payable Zakat. This helps
increase
production and stimulates supply because it is a redistribution of income that
enhances the demand by putting more real purchasing power in the hands of poor.
Zakat is obligatory upon a person if :
* He or she is an adult, sane, free and Muslim.
* He/she must possess wealth in excess of specified minimum (Nisaab)
excluding
his or her personal needs (clothing, household furniture, utensils, cars etc.
are termed article of personal needs).
* It should be possessed for a complete lunar year.
* It should be of productive nature from which one can derive profit
or
benefit such as merchandise for business, gold, silver, livestock etc.
The amount of wealth which makes one liable for Zakat is called Nisaab.
Gold 87.48 Gram 7.50Tolas 1350Grains 2.8125Troy Oz.
Silver 612.36Gram 52.50Tolas 9450Grains and 19.6875 Troy Oz.
Nisaab of cash, stock or bonds, other cash assets is the equivalent amount of
Gold or Silver. Nisaab is calculated by adding up the cash value of all the
assets such as gold, silver, currency etc. and if it is equal TO or in excess
of the minimum Nisaab as specified in the above table, the Zakat is due at the
rate of 2.5%.
The payment of Zakat is compulsory on the excess wealth or effects which is
equal to or exceeds the value of Nisaab, and which is possessed for a full
Islamic year. If such wealth decreases during the course of the year and
increases again to the value of Nisaab before the end of the year, the Zakat
then must be calculated on the full amount that is possessed at the end of the
year.
TYPES OF WEALTH ON WHICH ZAKAT IS IMPOSED:
1. Gold and silver, in any form.
2. Cash, bank notes, stocks, bonds etc.
3. Merchandise for business, equal to the value of Nisaab.
4. Live stock.
5. On income derived from rental business.
DISTRIBUTION OF ZAKAT:
1. Zakat should be given as soon as possible after it becomes due.
2. All of the Zakat can be given to one person or to several persons.
3. A poor man cannot be paid for his work from Zakat nor can Zakat be
given
in payment of services, except to the people appointed by the Islamic
government to collect Zakat.
4. Zakat will only be valid if the recipient is made the owner of that
amount.
If, for example, a few needy persons are fed a meal from Zakat money, then
Zakat will not be fulfilled as they were not made owners of the food.
5. Zakat cannot be given for the construction of Masjid, Madrasah,
Hospital, a
well, a bridge or any other public amenity.
6. Zakat can be paid in kind from the same merchandise on which it is
due, or
alternatively, it could be paid in cash.
TYPES OF WEALTH ON WHICH ZAKAT IS NOT IMPOSED:
1. On any metals other than gold or silver.
2. Fixtures and fittings of a shop, car, trucks or any delivery vehicle
etc.,
which is used in running business.
3. Diamonds, pearls, other precious or semi precious stones which are
for
personal use.
4. There is no Zakat on personal residence, household furniture, pots
and pan,
personal clothing, whether they are in use or not.
5. There is no Zakat on a person whose liabilities exceed or equal his
assets.
(Home Mortgage in this country is not to be counted as personal liability for
the Zakat purpose).
RECIPIENTS OF ZAKAT:
The recipients of Zakat, according to Quran are as follows: "Alms are for the
poor and the needy, and those employed to administer (the funds); for those
whose hearts have been (recently) reconciled (to truth); for those in bondage
and in debt; and for the wayfarer: (Thus is it) ordained by Allah, and Allah
is
full of Knowledge and Wisdom." (Quran 9:60)
1. FUQARA: people who are poor and who possess more than their basic
needs but
do not possess wealth equal to Nisaab.
2. MASAKEEN: people who are destitute and extremely needy to the extent
they
are forced to beg for their daily food rations.
3. AL-AMILEEN: people appointed by an Islamic Government to collect
Zakat.
4. MU-ALLAFATUL-QULUB: persons who have recently accepted Islam and are
in need
of basic necessities who would benefit from encouragement by Muslims which
would help strengthen their faith.
5. AR-RIQAAB: slaves who are permitted to work for remuneration and
have an
agreement from their masters to purchase their freedom on payment of fixed
amounts.
6. AL-GHAARIMEEN: persons who have a debt and do not possess any other
wealth
or goods with which they could repay that which they owe. It is conditional
that this debt was not created for any un-Islamic purpose.
7. FI-SABILILLAH: persons who have to carry out an obligatory deed
which has
become obligatory on them and subsequently (due to loss of wealth) are unable
to complete that obligation.
8. IBN-US-SABEEL: persons who are travelers and during the course of
their
journey do not possess basic necessities, though they are well to do at home.
They could be given Zakat in order to fulfill travel needs to return home.
PERSONS WHO CANNOT BE GIVEN ZAKAT:
1. Zakat cannot be given to the descendants of Muhammad (P.B.U.H);
2. Zakat cannot be given to parents and grandparents. In the same
manner one's
children and grandchildren cannot be given Zakat. A husband and wife cannot
give Zakat to each other.
VIRTUES OF ZAKAT: Allah says in the Quran: "The parable of those who spend
their wealth in the way of Allah is that of a grain of corn. It grows seven
ears and each ear has hundred grains. Allah increases manifold to whom He
pleases." (Quran 2:261)
It is stated in the Hadith that by giving Zakat the following benefits are
derived:
1. Gain the pleasure of Allah.
2. Increase in wealth and protection from losses.
3. Allahs forgiveness and blessings.
4. Protection from the wrath of Allah and from a bad death.
5. A shelter on the Day of Judgment;
6. Security from seventy misfortunes.
THE PUNISHMENT FOR NOT GIVING ZAKAT:
Allah says in the Quran: "And there are those who hoard gold and silver and do
not spend it in the way of Allah, announce to them a most grievous penalty
(when) on the Day of Judgment heat will be produced out of that wealth in the
fire of Hell. Then with it they will be branded on their forehead and their
flanks and backs. (It will be said to them) This is the treasure which you
hoarded for yourselves, taste then the treasure that you have been hoarding."
(Al-Quran 9:34-35)
http://www.allvoices.com/contributed-news/6499663-concept-of-zakat-in-islam
________________________________
Must Watch :
Zakah Tutorial: Understanding & Calculating Zakah Part 1 of 2
http://www.youtube.com/watch?v=KVdEmr9my-Q
Zakah Tutorial: Understanding & Calculating Zakah Part 2 of 2
http://www.youtube.com/watch?v=DiZ3w-Ft_4Y
________________________________
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