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ZAKAT

“In their wealth there is a known share
for the beggars and the destitute”

Quran [70:24-25]

WE ARE CANADA’S LARGEST ZAKAT AGENCY

Zakat Is More Than 2.5%. For the poor, It’s often the difference between life and death.

Zakat is a religious obligation upon every Muslim who has reached the age of puberty, is sane, and has above the minimum required amount of wealth (nisab).

Zakat is not only a means to purify one’s wealth but it is also a spiritual purification which serves as a means to draw an individual closer to their Creator, Allah (swt).

Most people choose Ramadan as the month to pay their 2.5% zakat, this is due to the fact that Ramadan is the month full of blessings and rewards, each deed is multiplied numerous times over.

Human Concern International has been implementing Zakat projects for the last 35 years in over 40 countries. Thousands of Muslims across Canada trust us to dispense their Zakat in the most accountable and transparent manner. We implement projects that are Zakat eligible and have the most impact on those in need. This includes, income assistance, emergency & disaster relief, food aid and refugee support.

THE THREE CATEGORIES OF PEOPLE HCI SPENDS ZAKAT ON, WHICH ARE ALLOWED IN ISLAM:

THE POOR AND NEEDY

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These people have some money but it is minimal and does not meet the nisaab.

THE DESTITUDE

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People who have no wealth at all. They live on the basic necessities of life.

TRAVELLERS

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In our case this represents refugees who are seeking new homes and safety by leaving their countries from disasters or conflicts.

Zakat is an act of worship we perform with the wealth Allah has blessed us with. It is a religious duty which cleans away impurities from our provision and ensures excess wealth is distributed among those in need.

Zakat is an obligation upon any Muslim who has reached puberty, is sane, and has above the minimum required amount of wealth (nisab). It requires giving a calculated amount (usually 2.5%) to the poor and needy.

The more Zakat that is paid, the more beneficial it is to the poor and needy. First of all you’ll need to work out whether you’re obligated to pay Zakat by looking at whether what you own meets the nisab.

The value of the nisab in prophetic tradition is 87.48 grams of pure gold or 612.36 grams of pure silver so the monetary value of the nisab will vary according to current prices. Due to the significant difference in the cost of gold and silver, the nisab for silver is now much lower. Although both values can be used, many scholars advise that we apply the nisab of silver when calculating our Zakat so more of us are eligible to pay it. It requires giving a calculated amount (usually 2.5%) to the poor and needy.

Zakat should be calculated and paid on any surplus wealth that you have owned for at least one lunar year. This includes:

● Gold, silver, precious metal, including ornaments/jewellery containing gold/silver.

● Stocks and shares.

● Money you have lent to others.

● Cash in bank accounts, committees or at home.

● Any business stock.

● Agricultural produce and livestock (cows, chickens, goats etc).

● Pensions.

● Property you own for investment purposes.

The easiest way to calculate your Zakat is to find out the monetary value of each type of wealth and then work out 2.5% of the total sum.

In the Holy Qur’an (9:60), the people who have the right to receive Zakat and legal uses of Zakat are described by Allah (swt).

● The poor: Those who have no income.

● The needy: Those who may have income, but it is less than they need.

● Distributors of Zakat: Those who identify the destitute and handle Zakat.

● Sympathisers: Those who might enter or who have already entered Islam.

● Freeing slaves: Used to ransom a slave.

● Debtors: Those unable to pay off a debt.

● Struggling for the sake of Allah (swt): Used to benefit humanity and convey the message of Islam.

● Travellers: Those travelling and in need.

At any day of the year (eg 21st Ramadan) add up the value of your gold, silver, savings, cash, shares etc – these are your total assets. Minus from this any money you owe and any bills immediately due – these are your liabilities. If the balance is more than the nisab value, then you have to pay Zakat of 2.5% on the whole amount.

Passage of One Lunar Year

Zakat is obligatory after a time span of one lunar year passes with the money in the control of it’s owner. Then the owner needs to pay 2.5% (or 1/40) of the money as Zakat. (A lunar year is approximately 355 days).

CALCULATE YOUR ZAKAT

Our calculator will assist you in calculating your Zakat to ensure you are fulfilling your obligation in an accurate manner. If you require further assistance, feel free to get in touch with our office and we would be happy to assist you.

PURIFY YOUR WEALTH