Give Your Zakat with Kashmir Welfare Foundation This Ramadan
What is Zakat?
Zakat is one of the five pillars of Islam, a fundamental obligation for all eligible Muslims. It is a form of almsgiving that purifies wealth and ensures the well-being of the less fortunate in society. The word “Zakat” itself means “purification” and “growth,” signifying the spiritual and social benefits of fulfilling this duty.
Why is Zakat Important?
Zakat is not just a charitable donation; it is a religious duty that strengthens the Muslim community by redistributing wealth to those in need. It helps alleviate poverty, supports orphans, widows, and those struggling financially, and ensures economic balance within society. Allah (SWT) commands in the Quran:
“Establish prayer and give Zakat, and whatever good you put forward for yourselves – you will find it with Allah.” (Quran 2:110)
Who is Eligible to Pay Zakat?
Zakat is obligatory for Muslims who meet the Nisab threshold, which is the minimum amount of wealth a person must have before they are required to pay Zakat. The eligibility criteria include:
- Being a Muslim
- Being an adult
- Possessing wealth above the Nisab for a full lunar year
- Having wealth that is free from debts that would reduce it below the Nisab
How to Calculate Zakat
The standard rate of Zakat is 2.5% of qualifying wealth. This applies to:
- Cash savings (including money in the bank, at home, or in hand)
- Gold and silver (jewelry and bullion exceeding the Nisab amount)
- Business assets (inventory, profits, and investments intended for trade)
- Shares and stocks (if bought for resale, Zakat applies to their market value)
- Property (only if purchased for resale; personal homes are exempt)
- Pensions (voluntary contributions are subject to Zakat)
- Loans given out (if likely to be repaid, Zakat is payable on them)
What is the Nisab Threshold?
The Nisab is based on the value of 87.48 grams of gold or 612.36 grams of silver. Since the value of these metals fluctuates, it’s essential to check their latest market prices.
- Gold Nisab: If gold is £50 per gram, the Nisab would be £4,374 (87.48g × £50).
- Silver Nisab: If silver is £0.60 per gram, the Nisab would be £368 (612.36g × £0.60).
Scholars generally recommend using the silver Nisab for Zakat calculations as it benefits more people due to its lower threshold.
When to Pay Zakat
Zakat is due once every lunar year if a person’s wealth remains above the Nisab. Many Muslims choose to pay it during Ramadan to maximize rewards, but it can be paid at any time of the year.
Steps to Pay Zakat
- Assess your wealth: Calculate your assets and deduct debts.
- Determine if you meet the Nisab: Compare your wealth with the latest gold or silver Nisab.
- Calculate 2.5% of your total Zakatable assets.
- Distribute Zakat correctly: Give it to the rightful recipients as per Islamic guidelines.
Who Receives Zakat?
The Quran specifies eight categories of people eligible for Zakat (Surah At-Tawbah 9:60):
- The poor (those struggling to meet basic needs)
- The needy (those in even more dire circumstances)
- Zakat administrators (those distributing Zakat)
- New Muslims (to strengthen their faith)
- Those in debt (who cannot repay their obligations)
- Slaves (historically, for their emancipation)
- Those striving in the path of Allah (such as scholars and those defending the faith)
- Stranded travelers (who are in need of assistance)
The Impact of Zakat
Paying Zakat transforms both the giver and the recipient. It:
- Purifies wealth and brings spiritual blessings
- Supports orphans, widows, and impoverished families
- Strengthens the Muslim community through social responsibility
- Helps people break free from the cycle of poverty
- Provides crucial humanitarian aid in crisis situations
Make Your Zakat Count
At Kashmir Welfare Foundation, we ensure that your Zakat reaches the most deserving individuals, including families affected by conflict, widows, orphans, and those in extreme poverty. Your contributions help provide food, education, healthcare, and livelihood support to those in need.
Calculate & Donate Your Zakat Today
Use our Zakat Calculator to easily determine how much you owe. Visit our donation page to ensure your Zakat is distributed according to Islamic principles and makes a lasting difference.
May Allah accept your Zakat and bless you with increased wealth and barakah. Ameen!
Need help calculating your Zakat? Contact our team for guidance!
