Zakat

What is Zakat

Zakat is one of the 5 pillars of Islam and an important obligation upon all Muslims who meet the criteria of Nisab. It is not a light matter and a major sin if it is not paid. Making multiple intentions when giving zakat can be a beautiful experience when done correctly for the sake of Allah (Most High).

When is Zakat owed

When your total assets reach or goes beyond Nisab on a given day, zakat is owed one lunar year from that day as long as your total assets do not go below zero and your total assets are still at or above Nisab one lunar year from when you first reached Nisab.

Please make sure you have studied the Fiqh of Zakat, without having studied Fiqh of Zakat, you may make mistakes in calculating Zakat.

Calculating Zakat owed

To calculate how much zakat is owed, add up the value of your gold, silver, cash and shares and zakatable investments. This is referred to as your total asset value. You then minus any deductible debts from your total asset value, if the balance is more than the Nisab value, then you have to pay Zakat of 2.5% on this figure.

Alhamdulillah, by the Mercy of Allah (Most High), Islam Answers is offering a FREE Zakat service to help people work out their Zakat. Calculating one’s Zakat year-end date can be tricky, but once it is done successfully the first time it’s easier to work out from then onwards.

More information on the Zakat service can be found here.

Once you have your Zakat year-end date, you can use our zakat calculator on this page to calculate zakat owed based on historic Nisab values. You can calculate zakat from dates going back to July 1982.

Who to pay your Zakat to

Zakat can only be paid to individuals who fit the criteria of being an eligible zakat recipient.

Islam Answers provides a service for collecting and distributing zakat on a 100% donation policy, ensuring all of the money goes to Muslim individuals eligible to recieve zakat.

More information can be found here on the Islam Answers website.