Zakat is a crucial pillar of Islam, serving as a mandatory form of charity meant to assist the needy and enhance social equity. As Ramadan concludes, Muslims worldwide often prepare to give zakat, a practice rooted in the Quran that signifies purification and growth. Muslims with wealth surpassing the nisab threshold, approximately $9,000 equivalent in gold or silver, are mandated to contribute 2.5% of their wealth annually. The two principal forms of zakat are zakat al-mal, based on wealth, and zakat al-fitr, given at Ramadan's end to assist those in need.
Zakat is a compulsory form of charity in Islam aimed at supporting the needy and promoting economic equality. It purifies wealth and benefits society.
The word zakat means purification or growth, and it is commanded in the Quran to help those in need, promoting social justice.
Muslims must pay zakat if their wealth remains above the nisab threshold for a lunar year, ensuring it is relevant to various economic conditions.
Zakat al-mal requires Muslims to donate 2.5 percent of their assets annually, while zakat al-fitr is a form of zakat given at Ramadan's end.
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