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Zakat: The Pillar of Islamic Charity
What is Zakat?
Zakat is an obligatory form of charity in Islam, requiring Muslims to donate a portion of their wealth to those in need. It is one of the Five Pillars of Islam and serves as a means of spiritual purification and social responsibility. The word “Zakat” itself means “purification” and “growth,” symbolizing the cleansing of wealth and the development of a more equitable society.
The Importance of Zakat
Zakat holds immense significance in Islam as it plays a pivotal role in promoting social justice and economic equality. By ensuring the circulation of wealth, it helps bridge the gap between the rich and the poor. The key benefits of Zakat include:
Strengthening Social Bonds
Encourages compassion and unity within the Muslim community.
Reducing Poverty
Provides financial assistance to the underprivileged, helping them meet their basic needs.
Encouraging Wealth Circulation
Prevents wealth from being hoarded and promotes economic balance.
Purification of Wealth
Helps Muslims cleanse their earnings from greed and materialism.
Spiritual Reward
Fulfilling this duty leads to blessings (Barakah) and strengthens faith.
Who is Eligible to Receive Zakat?
According to Islamic teachings, Zakat should be given to the following categories of people, as mentioned in the Quran:
إِنَّمَا ٱلصَّدَقَـٰتُ لِلْفُقَرَآءِ وَٱلْمَسَـٰكِينِ وَٱلْعَـٰمِلِينَ عَلَيْهَا وَٱلْمُؤَلَّفَةِ قُلُوبُهُمْ وَفِى ٱلرِّقَابِ وَٱلْغَـٰرِمِينَ وَفِى سَبِيلِ ٱللَّهِ وَٱبْنِ ٱلسَّبِيلِ ۖ فَرِيضَةًۭ مِّنَ ٱللَّهِ ۗ وَٱللَّهُ عَلِيمٌ حَكِيمٌۭ
Alms-tax is only for the poor and the needy, for those employed to administer it, for those whose hearts are attracted ˹to the faith˺, for ˹freeing˺ slaves, for those in debt, for Allah’s cause, and for ˹needy˺ travellers. ˹This is˺ an obligation from Allah. And Allah is All-Knowing, All-Wise.
The Poor and Needy: Individuals who lack financial stability and resources.
Those in Debt: People struggling to repay legitimate debts.
Stranded Travelers: Those who are away from home and facing financial hardships.
New Converts to Islam: Individuals who need support in their new faith journey.
Those in the Path of Allah (Fi Sabilillah): This includes charitable causes such as Islamic education and humanitarian efforts.
How to Calculate Zakat?
Zakat is generally 2.5% of a Muslim’s savings and financial assets that exceed a certain threshold, known as Nisab. This threshold is determined based on the value of gold or silver.
Nisab Threshold:
Gold: 85 grams
Silver: 595 grams
Cash and Investments: Equivalent to the gold/silver Nisab value
Example Calculation:
If a person has $10,000 in savings and the Nisab threshold is $500, then: $10,000 × 2.5% = $250.
This amount must be given to eligible recipients to fulfill the Zakat obligation.
The Spiritual Benefits of Zakat
Purifies Wealth: Ensures that one’s earnings are clean and free from greed.
Increases Blessings (Barakah): Leads to divine rewards and prosperity.
Strengthens Faith and Humility: Reinforces a sense of gratitude and responsibility towards the less fortunate.
Contributes to a Just Society: Reduces economic disparity and promotes social welfare.
Al Quran Companion Accepts Zakat
At Al Quran Companion, we believe that education is a fundamental right for every Muslim, regardless of their financial situation. We accept Zakat donations not only to provide Islamic education but also to assist those in need, whether through educational support or other essential services.
Your Zakat contributions directly impact the lives of those who want to learn the Quran but lack the financial means to do so. With your support, we provide:
- Tuition-free Quranic education for deserving students.
- Learning materials, books, and online resources to facilitate Quranic studies.
- Financial aid for students who struggle to afford basic educational needs.
- Support for other needs such as medical expenses, food, and shelter for those who are struggling in the community.
Zakat is not just about giving money; it’s about transforming lives. By donating to Al Quran Companion, you are helping shape the next generation of Islamic scholars, Huffaz, and devoted learners. Your Zakat also aids in providing immediate relief to those in need, ensuring that no one is left behind due to financial constraints.
How You Can Contribute Your Zakat
Al Quran Companion
If you wish to fulfill your Zakat obligation while making a meaningful impact, consider donating to Al Quran Companion.
Ways to Donate
Online Donation
Click on the button given below to give your Zakat
Bank Transfer
Contact our support on WhatsApp or our Email for details on bank transfers.
Email: support@alqurancompanion.com
Phone: +1 (929) 539-3182
Direct Sponsorship
Sponsor a student’s Quranic education by allocating your Zakat for their learning journey.
General Assistance
Use your Zakat to help those in need, whether for education or other urgent needs within the community.
Together, we can spread the light of knowledge and make Islamic education and support accessible to everyone, regardless of their financial situation.
Conclusion
Zakat is more than a financial obligation; it’s a means of creating a just and compassionate society. By fulfilling this duty, Muslims not only obey Allah but also contribute to uplifting the less fortunate. Supporting institutions like Al Quran Companion ensures that Zakat is used effectively to benefit those in need, whether through education or other essential forms of support.
Your Zakat can make a lasting difference—donate today and be a part of this noble cause.
FAQs
Is Zakat applicable on business assets?
Yes, it includes stock, cash, and profits derived from business activities
When should I pay Zakat?
Zakat is due once a year when your savings exceed the Nisab threshold.
Can Zakat be given to non-Muslims?
No, Zakat is specifically for eligible Muslims as outlined in Islamic teachings.
What happens if I don't pay Zakat?
Not paying Zakat is considered a major sin in Islam and can lead to accountability in the Hereafter.
Can I donate Zakat to Al Quran Companion?
Yes! Al Quran Companion accepts Zakat donations to support Quranic education for financially struggling students and for those who are need. Your Zakat helps provide free learning opportunities for those in need, as well as support other essential services.
By giving Zakat, you contribute to a better society, ensure the circulation of wealth, and help those in need. Let’s work together to spread knowledge, provide aid, and create a brighter future for the Ummah.
