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Zakat or alms is one of the five pillars of Islam, and it's obligatory on all those who are financially sound.
Under Shariah law, Zakat applies to gold, diamond, jewellery, and savings assets.
Islam's five pillars are the core beliefs and practices of Islam. They are profession of faith (Shahada), prayer, alms (Zakat), fasting and pilgrimage.
Below is a guide about the third pillar of Islam.
It's a form of charity in Islam. It's the third pillar of Islam. It has many meanings linguistically, including growth and development, purification and Shari'a (a specified share of money paid to a certain specific segment of the society).
Yes, it's obligatory for Muslims who have more than a certain amount of gold, precious metal jewellery, cash savings or other assets. Zakat applies to surplus money after meeting the basic needs such as food, clothing and housing for oneself and family.
People who don't have savings or gold/jewellery below a certain threshold are exempted.
Zakat is meant to purify wealth.
It's paid once a year (as per the Hijri - Islamic - calendar)
It's around 2.5 per cent paid annually or seasonally on the wealth and possessions of a matured Muslim individual, including men and women.
The UAE portal Zakat Fund can assist residents in calculating their Zakat. Residents can also calculate and pay their Zakat on the DubaiNow app.
It's a charity paid during the holy month of Ramadan to the poor and needy. The amount can be given from the first day of Ramadan and before Eid Al Fitr prayer time.
It is obligatory on every Muslim man and woman, whether adult or child, who owns what is more than his needs and the needs of his dependents. Heads of households have to give the amount to each non-earning member of his/her family.
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The UAE's Fatwa Council has set the value of Zakat Al Fitr in the UAE this year at Dh25 per person.
According to a Hadith narrated by Ibn Abbas, may Allah be pleased with him: "The Prophet (peace be upon him) prescribed Zakat Al-Fitr as purification for the fasting person from the idle and obscene talk, and to feed the poor. Whoever gives it before the prayer, it is accepted Zakat, and whoever gives it after the prayer, it is a form of charity."
-waheedabbas@khaleejtimes.com
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