YOUR ZAKAT
100% of your Zakat is spent on those who need it most…
Zakat FAQ’s
Zakat is not charity, It is not voluntary charity not a tax but an obligation. By giving it, a Muslim is acknowledging that everything we have is Allah’s and we do not really own it, and we should use it to remember Allah and help those who are in need. It is also an act to help free us from excessive desire and greed, learn self-discipline and honesty.
You should record the Islamic date on which you first became the owner of Nisaab – if, on the same date the following lunar year, you are still the owner of Nisaab, you will be obliged to pay Zakat. Many Muslims choose to give it during Ramadan as the rewards for good deeds performed in Ramadan are greater than in any other month.
Zakat can only be paid to specific beneficiaries and projects.
The Qur’an mentions eight groups of people on whom it should be spent:
- The Fuqara’ (the poor)
- Al-Maskin (the needy)
- Aamileen (Zakat collector)
- Muallafatul Quloob (poor and needy who recently converted to Islam)
- Ar-Riqaab (slaves; Zakat can be used to purchase their freedom)
- Ibnus-Sabeel: A stranded traveller in need of financial assistance
- Al Ghaarimeen: A debtor
- Fi Sabeelillah: Those who are away from home in the path of Allah
Assets to include in your Zakat calculation are cash (in hand, in bank accounts or money lent to someone), shares, pensions, gold and silver. Personal items (your home, furniture, cars, food, clothing) are not included in Nisaab.
There are two measures to determine Nisaab – gold or silver.
- Gold: The Nisaab by the gold standard is 3 ounces of gold (87.48 grams) or its cash equivalent. The price will vary with the current market value of gold.
- Silver: The Nisaab by the silver standard is 21 ounces of silver (612.36 grams) or its equivalent in cash.
Zakat can only be paid to specific beneficiaries and projects.
Gold: For example, if the price of gold is £20 a gram, the Nisaab (£20 x 87.48) on which Zakat is due is £1,749. So anyone who has £1,749 or more in savings will have to pay 2.5% on that (minimum Zakat will be £43.73)
Silver: For example, if the price of silver is £1 a gram, the Nisaab (£1 x 612.36) on which Zakat is due is £612.36. So anyone who has £612.36 or more in savings will have to pay 2.5% on that (minimum Zakat will be £15.31)
PLEASE NOTE: These are examples. If you wish to calculate your Zakat, you must obtain up to date information on the price of gold and silver. For more information contact your local Mosque or Imam.