Importance of zakah

angryoldman

Minister (2k+ posts)
IMPORTANCE OF ZAKAH

Zakah (alms) is one of the five pillars of Islam. Its importance can be realised from the fact that in 82 verses of the Qur'an Zakah is associated with prayer (Salah), such as:
“Establish regular prayer and give Zakah; and obey Allah and His Messenger.” Quran (33:33)
If social justice and compassion to fellow humans who are disadvantaged is one of the central themes in the message of Allah to humanity, then it is no wonder that Zakah, like prayer and fasting, was also enjoined upon the people of the past messengers:
And We made them (descendants of Abraham) leaders, guiding by Our command, and We sent them inspiration to do good deeds, to establish regular Prayers and to practise Zakah; and they constantly served Us” -Quran (21:73)

THE WISDOM OF GIVING ZAKAH
It purifies your wealth as Allah Ta’ala says in the Qur'an: Take alms from their wealth in order to purify them and sanctify them with it and pray for them.”Quran (9:103)

  • 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 due to inflation etc. Zakah 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.
  • It keeps one away from sin and saves the giver from the moral ill arising from the love and greed of wealth.
Through Zakah, the poor are cared for, these include widows, orphans, the disabled, the needy and the destitute.

Zakah is the right of the poor. Zakah is not considered a favour that is given to the poor by the rich. It is the right of the poor on the wealth of the rich. Allah says: ..(In their) wealth there is a known share for the beggars and the destitute”Quran (70:24-25)

Zakah, therefore, is unlike charity that is given to the needy voluntarily. Withholding Zakah is considered depriving the poor of their due share. Thus one who pays Zakah actually "purifies" his wealth by separating from it the portion that belongs to the poor.

VIRTUES OF ZAKAH
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)

The Beloved Messenger of Allah (pbuh) is reported to have said about Zakah:
Zakah is a (great and strong) bridge of Islam.
If a man pays the Zakah due on his property, it causes its evil influence to vanish.
Gains the pleasure of Allah.
Increases wealth and protects from losses.
Causes Allah's forgiveness and blessings.
Protection from the wrath of Allah and from a bad death.
A shelter on the Day of Judgment.
Security from seventy misfortunes.

Alqamah Radhiallaho anho says that when our group of people visited Rasulullah Sallallaho alaihe wasallam he said to them, "Verily you can make your Islam perfect by your payment of the Zakaat due on your property".

Rasulullah Sallallaho alaihe wasallam said, "he who observes three things will taste the sweetness of Imaan (faith): One who worships Allah alone and believes (from his heart) that there is no one to be worshipped but Allahand one who pays the Zakaat on his property, willingly, every year. In Zakaat on the animals, one should not give an aged animal or one suffering from itch or any other ailment, or an inferior one, but should give animals of average quality. Allah Ta'ala does not demand from you the best of your animals, nor does He command you to give animals of the worst quality".

Do I have to give Zakah?
Zakah is obligatory on an adult sane Muslim who has wealth that reaches or exceeds a certain level called the Nisab for a lunar year.(please contact your local Islamic Scholar about the exact amount of Nisab in your local currency). Unlike tax, however, Zakah is an act of worship for which one receives reward from Allah Ta’ala. Ignoring to pay Zakah, on the other hand, is a major sin.
How much do I have to give?
If you are in possession of money, gold, silver, stock in trade or shares that amount to more than the value of Nisab (at current market rates) then you are obliged to pay Zakah. What amounts are owed by you should be deducted from the capital amount before Zakah is calculated.
The rate of Zakah is 2.5%
For details and rules pertaining to Zakah please contact your local Ulama (Islamic Scholars) or for any questions relating to Zakah please email [email protected]
Remember … "The upper hand is better than the lower hand (i.e. he who gives in charity is better than him who takes it).” (Hadith- Bukhari)
 

jaanmark

Chief Minister (5k+ posts)
The rate of Zakah is 2.5% on the money and material which person has owned and not used in for self in past whole one year. to make PAK such money and material on by the order of Allah SWT:alhamd:
 

Rizwan2009

Chief Minister (5k+ posts)
صرف نظام زکات ہي کو ٹھيک کرليا جائے تو پاکستان ميں نہ تو کسي اور ٹيکس کي ضرورت ہے اور نہ ہي کسي دوسرے ملک سے قرضہ امداد لينے کي ضرورت ہوگي پاکستان کے تمام معاشي مسائل خود بخود حل ہوجائيں گے
 

Night_Hawk

Siasat.pk - Blogger
Frequently Asked Questions in Ramadan
What is Zakat (Obligatory Charity)?Zakat is an obligatory act ordained, to be performed by every adult and able-bodied Muslim. It is an important pillar among the five pillars of Islam. Zakat is a part of the wealth and property that Muslims must pay annually, to help the poor of their community. One of the main purposes of Zakat is to keep those who are wealthy clean, monetarily, from sin. It is a form of Sadaqah (charity), which is obligatory on Muslims.

Who is required to pay Zakat?For people to pay Zakat they must meet the following criteria:

  • The person should be Muslim, adult, sane, free (not a slave).
  • They must posses a certain minimum amount of extra wealth (called nisab), fully owned by them in excess of personal use (such as clothing, food, shelter, household furniture, utensils, cars, etc).
  • They should have had this minimum amount in possession for a complete lunar year (hawl).
  • The wealth should be of a productive nature, from which they can derive profit or benefit such as merchandise for business, gold, silver, livestock, etc.
  • The minimum amount (or Nisab) should not be owed to someone, i.e., it should be free from debt.

When is Zakat due?A complete year in the Islamic calendar should pass, starting from the very day of the nisab's possession, without any decrease to zero during the year, even if it goes below the nisab. In case of its decrease to zero, the yearly cycle (hawl) starts from the day the nisab becomes complete again. Zakat should be given as soon as possible after it becomes due. It is possible that death may occur and thus lead to failure in fulfilling one's obligations. If a person dies before paying Zakat, then it must be taken from his/her estate.
'Ali reported that the Prophet (PBUH) said: "There is nothing upon you in gold, until it reaches twenty dinars. Thus, if you have twenty dinars at the end of the year, then there is half a dinar levied on it [as Zakat]. Any additional amount will be calculated in this manner. There is no Zakat on property until it has been owned for one year." (Related by Ahmad, Abu Dawud, and al-Baihaqi).

What kinds of things require paying Zakat on them?
  • Gold and Silver
  • Cash
  • Stocks
  • Mutual Funds
  • Stock Options
  • Business Merchandise Inventory
  • Private Companies, Corporations and Partnerships
  • Retirement Plans (401K, IRA, etc.)
  • Real Estate Investments in Property Owning Companies
  • Accounts Receivable
  • Profits from Investments
  • Trusts
  • Long-Term Insurance (Life Insurance)
  • Lump Sum Payments in Terms of Compulsory Pension and Provident Funds
  • Severance Package
  • Income Tax
  • Liabilities which may be deducted
  • Buried Precious Metals or Minerals (Rikaz)
  • Livestock, Animals, Cows, Sheep, Camels
  • Agricultural Produce

What is the Nisab?Gold and silver, whether in the form of jewelry otherwise, will always be subject to Zakat provided their respective weights exceed the nisab amount. According to scholars, nisab for gold is 20 mithqal (~ 87.49g), and the nisab for silver is 200 dirhams (~613.35g). Nisab Grams Ounce Troy Oz Gold 20 mithqal 87.49 3.086 2.8125 Silver 200 dirhams 613.350 21.635 19.6875 Gold and silver prices have been (and can be) obtained fromhttp://www.goldprice.org/

What is the method of giving Zakat?"If you give alms openly, it is well, and if you hide it and give it to the poor, it is better for you; and this will do away with some of your evil deeds; and Allah is aware of what you do." [Al-Quran 2:271]
It is obligatory to make an intention for the fulfillment of Zakat, just like it is obligatory to make an intention for Salah. Further, it is not necessary to reveal to the needy person (to whom Zakat is given) that the cash or kind which is being given to him is Zakat. If one gives a deserving person some money as a gift, but makes the niyyah of Zakat, it will be valid.
Zakat will only be valid if the recipient is made the owner of that amount. Zakat cannot be given or used for the construction of a masjid, madrassah, hospital, a well, a bridge or any other public amenity. Authority can be delegated to another person or an organization for the distribution of Zakat so that it can be utilized in accordance with the laws of Zakat. If an agent is given Zakat for distribution, and he does not distribute it, then the Zakat will not be regarded as fulfilled, and the sin of not discharging the obligatory duty of Zakat will remain a burden on whom it was obligatory.

Am I allowed to give my Zakat to my family members?Zakat can only be given to people who fall into the categories stated in the Quran. Thus, if family members come under these categories, then you are able to give them Zakat. However, if the family members are dependent upon you, then you are not able to give them Zakat.

How much money must one have before they are liable to pay Zakat?A person must own either the equivalent of the nisab value or more, for a complete lunar year before they are liable to pay Zakat.

Do I need to make an intention to pay Zakat?Yes, Zakat is an obligation and the validity of it depends on the intention made by the person whose pays it.

I have already paid a lot of money to charities. Does this count as my Zakat?If the money that has already been donated to other charities, was donated with the intention of Zakat, then this will insha’Allah be counted as Zakat. However, if the intention of paying Zakat was not made, then the previous donations will be counted as Sadaqah and Zakat is still payable, with the correct intention.

Am I allowed to pay my Zakat early?Yes, if you know that you will be liable to pay Zakat in the following year, then you can pay it in advance if you wish to. This can be done in monthly instalments for convenience.

Should I include wealth for which I have already paid Zakat in previous years?Zakat must be paid every lunar year. If an individual possesses wealth at the Nisab value for one year, they must pay Zakat for this. Then, if the following year they are still in possession of the same wealth, then they must pay Zakat for this again.

Can my spouse and I pay our Zakat jointly?Zakat is an individual obligation; every person is to pay Zakat for their own wealth. One must calculate their own wealth and compare it with the value of the Nisab for that day; and then pay Zakat accordingly if they are eligible to pay.

Do I pay Zakat on my house and car?No, Zakat does not need to be paid on the house and car which you use personally.

Zakat on Jewelery
I only possess gold and/or silver which is equivalent to the value of the Nisab, but I do not have money; do I still need to pay Zakat?Yes, as you possess enough wealth to be considered eligible to pay Zakat, even though it is not in the form of cash. You should sell a portion of your jewelery so that you can acquire the cash to pay your Zakat.

I have gold jewelery which I use; do I have to pay Zakat on this jewelery?According to the Hanafi school of law (Madhab), Zakat must be paid on all the jewelery which is owned, provided that the total value of wealth is equivalent to the Nisab for one complete lunar year. Other Madhabs state that Zakat is not due for jewelery that is for personal use.

I have my own business – how do I pay Zakat on this?Zakat is payable on the sale value of all trade goods of the business. Anything that is essential for the running of the business such as vehicles, machinery and the building itself will be exempt from Zakat.

I am in debt, do I still have to pay Zakat?Short term debt: Short term debt is one that you need to pay within your Zakat year, and payments for this debt need to be deducted from your savings before you calculate your total wealth.
Long term debt: Long term debt such as a mortgage should not be deducted in full when calculating your total wealth, as this is something which will continue for many years. Rather you should deduct only the amount you will need to pay within your Zakat year.

What is Zakat al Fitr?Zakat al Fitr is essentially the purification of fasting. Every Muslim is required to pay Zakat al Fitr. If the person is the primary earner of the family then they should pay Zakat al Fitr on behalf of all their dependents. The minimum that is required would be the value of 2kg of flour, wheat, barley or rice from each person in the household; this is approximately $5 per person. Those eligible to receive Zakat al Fitr are the same as the recipients of Zakat.

What is the difference between Zakat al Fitr and Zakat?Zakat al Fitr is due for all Muslims, where the head of the house will be required to pay on his or her dependents, at a rate of a minimum of $5, before the Eid prayer. Zakat is only payable by Muslims that meet the required Nisab and is calculated at 2.5% of accumulated wealth held for one complete lunar year.

When should I pay Zakat al Fitr, before or after Eid prayer?Zakat al Fitr ideally should be paid in advance of the Eid prayer so that enough time is given for the money to be distributed to the poor, ensuring that they are able to enjoy their Eid.

What about the Zakat that I have not paid over the years?Ibn 'Abbas (Allah be pleased with both of them) reported: A woman came to the Messenger of Allah (may peace be upon him) and said: My mother has died, and fasts of a month are due from her. Thereupon he said: Don't you see that if debt was due from her, would you not pay it? She said: Yes (I would pay on her behalf). Thereupon he said: The debt of Allah deserves its payment more than (the payment of anyone else) (Muslim, Book 6, No. 2554).

Thus, scholars deduce from the above hadith that any missed Zakat must be paid immediately to the deserving.

http://www.zaytunacollege.org/give/ramadan


 

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