Zakat / ZakaH
Zakat is an obligatory act ordained by Allah, in which every adult and able-bodied Muslim contributes a portion of their assets to help the poor in their community.
It is an important pillar of the five pillars of Islam.
The translation of the word Zakat means “purification” and “growth.” By setting aside a portion of our assets, we purify both ourselves and the community we serve. Like trimming back a plant that has overgrown in some sections, the whole becomes healthier.
Zakat is designed to help the people as defined in Surah At-Tawbah (9) verse 60:
"The alms are only for the poor and the needy, and those who collect them, and those whose hearts are to be reconciled, and to free the captives and the debtors, and for the cause of Allah, and (for) the wayfarers; a duty imposed by Allah. Allah is knower, Wise."
A person is obligated to pay Zakat when a certain amount of money, called the “nisab” is met or exceeded as the sum total of someone’s annual salary or net assets. Zakat is not required if the person owns less than the amount of the nisab. To calculate Zakat, start by deducting any amount of money borrowed from others. After this is done, check to see if the remaining sum meets the nisab. The amount will then total 2.5% of a persons assets.
WHEN IS ZAKAT DUE?
Zakat is paid once per year in a lunar cycle (355 days). Any increases from the start of the year to the end should be recalculated at the time Zakat is due.
Please contact us if you have any questions regarding Zakat and how to donate to ICNEV.