Showing posts with label Zakat. Show all posts
Showing posts with label Zakat. Show all posts

Wednesday, July 8, 2015

Zakat al Fitr (Fitranah) Islamic Relief - Hadith about Firtanah

 Zakat al-Fitr


Zakat al-Fitr is charity given to the poor at the end of the fasting in the Islamic holy month of Ramadan. Sadaqat al-Fitr is a duty which is wajib (required) of every Muslim, whether male or female, minor or adult as long as he/she has the means to do so.

Purpose of Zakat

Zakat

The main purpose of Zakat al-Fitr is to provide the poor with a means with which they can celebrate the festival of breaking the fast (`Eid al-Fitr) along with the rest of the Muslims.  It purify those who fast from any indecent act or speech and to help the poor and needy.

Every Muslim is required to pay Zakat al-Fitr at the conclusion of the month of Ramadan as a token of thankfulness to God for having enabled him or her to observe the obligatory fast.

Hadith about Zakat al-Fitr 


Hadith

 �Narrated Ibn Umar (RA): Allah�s Messenger (PBUH) has made the payment of Sadaqat-ul-Fitr obligatory, either one Sa� of barley or one Sa� of dates (per head) on young and old people and on free men as on slaves.�

(Hadith No. 1512, Book of Zakat, Sahih Bukhari, Vol.2).

�Ibn Umar (RA) narrated that Allah�s Messenger (PBUH) would order paying Sadaqat-ul-Fitr before going to Salat on the day of Eid-ul-Fitr.�

(Hadith No. 1509, Book of Zakat, Sahih Bukhari, Vol. 2; Hadith No. 677, Chapters on Zakat, Jami�-At-Tirmidhi, Vol. 2).

�Ibn Abbas (RA) narrated: Allah�s Messenger (PBUH) obligated Zakat-ul-Fitr for the one who fasts as a means of purifying him from vain talk and immoral deeds, and as a means of feeding the poor. Whoever gives it before the (Eid) prayer will have it counted as an accepted Sadaqah, and whoever gives it after the prayer will have it counted as a charity among charities.�

(Hadith No. 1609, Book of Zakat, Sunan Abu Dawud, Vol. 2).

Thursday, February 26, 2015

Zakat - Zakat in Islam - Zakat on Gold

 The Five Pillars of Islam



A Muslim who fulfills the Five Pillars of Islam, remains in the faith of Islam, and sincerely repents of his sins will make it to Jannah (paradise).  If he performs the Five Pillars but does not remain in the faith, he will not be saved. Pillars of Islam - Islamic Faith

1) Shahada: An Important Pillar Kalma - The First Pillar of Islam - Importance of Kalma
2) Salat: Namaz - The important Pillar of Islam
3) Zakat: Giving charity. Zakat - Law of Islam
4)Fast: Fasting - What is fasting in Islam?
5) Hajj: Pilgrimage. Hajj - Hajj Information

Zakat

Zakat in Islam


Offering Zakat is one of five pillars of Islam. This is about charity given to the poor. It benefits the poor and helps the giver by moving him towards more holiness and submission to Allah.

Recipients of Zakat:



Zakat

The recipients of Zakat, according to Quran are as follows:

"Alms are for the poor and the needy, and those employed to administer (the funds); for those whose hearts have been (recently) reconciled (to truth); for those in bondage and in debt; and for the wayfarer: (Thus is it) ordained by Allah, and Allah is full of Knowledge and Wisdom." (Quran 9:60)

    FUQARA: 
 people who are poor and who possess more than their basic needs but do not possess wealth equal to Nisaab.

    MASAKEEN:
people who are destitute and extremely needy to the extent they are forced to beg for their daily food rations.

    AL-AMILEEN:
people appointed by an Islamic Government to collect Zakat.

    MU-ALLAFATUL-QULUB:

persons who have recently accepted Islam and are in need of basic necessities who would benefit from encouragement by Muslims which would help strengthen their faith.

    AR-RIQAAB:
slaves who are permitted to work for remuneration and have an agreement from their masters to purchase their freedom on payment of fixed amounts.

    AL-GHAARIMEEN:
persons who have a debt and do not possess any other wealth or goods with which they could repay that which they owe. It is conditional that this debt was not created for any un-Islamic purpose.

    FI-SABILILLAH:

 persons who have to carry out an obligatory deed which has become obligatory on them and subsequently (due to loss of wealth) are unable to complete that obligation.

    IBN-US-SABEEL:

 persons who are travelers and during the course of their journey do not possess basic necessities, though they are well to do at home. They could be given Zakat in order to fulfill travel needs to return home.


 Types of Wealth on which Zakai is Imposed:

    Gold and silver, in any form.
    Cash, bank notes, stocks, etc.
    Merchandise for business, equal to the value of Nisaab.
    Live stock.
    On income derived from rental business.

 Calculation of Zakat



Calculation of Zakat

To calculate Zakat on jewelry etc. one must first determine the gold or silver content and then calculate the Zakat according to current market price.

    If the Gold possessed is less than 87.48 grams or if silver possessed is less then 612.36 grams, but the value of both combined is equal to or exceeds the Nisaab of either Gold or Silver, the Zakat will be due.

    In the event of an article not being of pure gold or pure silver, but containing a mixture of other metals and the gold or silver content is more than the other metal, it will be regarded as gold or silver and Zakat will be due. But in the case where other metal/s is of greater quantity than either gold or silver, Zakat will not be due on this article.

    For stocks (shares held in a company), Zakat is calculated based upon the current market value. As machinery, land, fixtures and fittings, furniture, buildings etc. are exempt from Zakat, one is allowed to subtract these from the total asset. This could be obtained from annual reports. For example, if one has shares worth $1000 and machinery, land etc., are worth 5% of the total asset, then deduct $50 for these assets, afterwards deduct the liabilities of the company proportionately to the percentage of shares held. Zakat must be calculated on the balance.

Virtues and Blessings of Giving Zakat:

Allah says in the Quran:
"The parable of those who spend their wealth in the way of Allah is that of a grain of corn. It grows seven ears and each ear has hundred grains. Allah increases manifold to whom He pleases." (Quran 2:261)
It is stated in the Hadith that by giving Zakat the following benefits are derived:

    Gain the pleasure of Allah.
    Increase in wealth and protection from losses.
    Allah's forgiveness and blessings.
    Protection from the wrath of Allah and from a bad death.
    A shelter on the Day of Judgment;
    Security from seventy misfortunes.

The Punishment for not Giving Zakat:

Allah says in the Quran:
"And there are those who hoard gold and silver and do not spend it in the way of Allah, announce to them a most grievous penalty (when) on the Day of Judgment heat will be produced out of that wealth in the fire of Hell. Then with it they will be branded on their forehead and their flanks and backs. (It will be said to them) This is the treasure which you hoarded for yourselves, taste then the treasure that you have been hoarding." (Al-Quran 9:34-35)

Sunday, December 21, 2014

Zakat - Law of Islam

Zakat in Islam

Zakat

Zakat is the practice of taxation and redistribution, imposed upon Muslims on their income and wealth. It is a form of obligatory alms giving, and the collected amount is paid to poor Muslims, to zakat collectors, to new converts to Islam, as income to its clergy, and others.
Zakat is mandatory for all Muslims, on their income and wealth above a minimum amount called nisab. However, there are disagreements among Islamic scholars on nisab and various aspects of zakat. Sharia mandates it as a requirement and evidence of being a Muslim. The payment and disputes on zakat have played a major role in the history of Islam.

The practice is one of the Five Pillars of Islam, and it is the only pillar which enjoins Muslims to submit to Islamic statism.

Qur'an
Quranic Verse
Qur'an discusses charity in many verses, some of which relate to zakat. The word zakat, with the meaning used in Islam now, is found in suras: 7:156, 19:31, 19:55, 21:72, 23:4, 27:3, 30:39, 31:3 and 41:7. Zakat is found in the early Medinan suras. In the quranic view, zakat is obligatory, but considered more than taxation.

 One must give zakat for the sake of one's salvation: while those who give zakat can expect reward from God (Allah) in the afterlife, neglecting to give zakat can result in damnation. The giving of the zakat is considered a means of purifying one's wealth and soul. Zakat is part of the covenant between God and a Muslim. Non-Muslims are not required to pay zakat, but must pay a tax called Jizyah tax with different characteristics.

Qur'an makes zakat as one of three prerequisites as to when a pagan becomes a Muslim, through verse 9.5: "but if they repent, establish prayers, and practice zakat they are your brethren in faith"
The Qur'an lists the beneficiaries of zakat.

Hadith
In Hadith

Each of the most trusted hadiths in Islam have a book dedicated to zakat. Sahih Bukhari's Book 24, Sahih Muslim's Book 5,and Sunan Abu-Dawud Book 9, discuss various aspects of zakat, including who must pay, how much, when and what. The 2.5% rate is also recited in the hadiths.


The hadiths admonish those who do not give the zakat. According to the hadith, refusal to pay or mockery of those who pay zakat is a sign of hypocrisy, and God will not accept the prayers of such people.The sunna also describe God's punishment for those who refuse or fail to pay zakat. On the day of Judgment, those who didn't give the zakat will be held accountable and punished.
 

The hadith contain advice on the state-authorized collection of the zakat. The collectors are required not to take more than what is due, and those who are paying the zakat are asked not to evade payment. The hadith also warn of punishment to those who take zakat when they are not eligible to receive it (see beneficiaries of zakat).