Introduction
Not many people outside of Islam are aware of the pillars of Islam, let alone Zakat. In this article we will be covering what zakat is, how to calculate it, and some general guidelines about the concept. This article is dedicated to new reverts and those wanting to know more about Islam.
What is Zakat
Zakat (pronounced Zakah or Zakaat) is the concept of charity in Islam. It is a mandatory duty to every Adult, able bodied Muslim, along with the other pillars of Islam including, Shahadah(Belief in Allah and his messenger Prophet Muhammadﷺ),Salah(Prayer) Sawm(Fasting) and Hajj (Pilgrimage). So how much are you obligated to give? Every eligible Muslim is expected to give 2.5% of their savings once every lunar year. But do not be worried, you must first meet the nisab, the minimum threshold before you can start donating. The nisab is the monetary equivalent of 87.48 grams of Gold and 612.36 grams of Silver, which is roughly $6185 USD.
How to Calculate Zakat
You are required to donate 2.5% of your surplus wealth to charity, meaning, whatever is remaining after your debts and liabilities. For example, if you have $10,000 USD in your account but have $5,000 in debt, your required Zakat is $125. In addition, it is calculated on a year-to-date basis. So if you have no savings when it comes time to give Zakat, its okay! Islam is not unreasonable and you are not expected to put yourself in dire financial straits to make Zakat.
Conclusion
In conclusion, Zakat is the Islamic concept of charity. Every adult, able-bodied Muslim is obligated to give 2.5% of their surplus wealth to charity. Before you go donating, it is recommended you meet the minimum threshold of nisab, which at the time of writing this article, is roughly $6185 USD. If you are not able to afford Zakat, remember that your Lord is Most Merciful and Most Kind. You are not expected to endure a perilous financial situation. I hope this article sheds some light on one of the Five Pillars of Islam, especially for new reverts who are still unaware of all the intricacies of Islam.
Written by: Michael Baldeo
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