ZAKAT
Zakat is an obligatory charity in Islam.
The word ‘zakat’ comes from the Arabic words ‘growth and ‘prosperity’; it’s about giving those who are in need from our own wealth.
The word is associated with the concept of purity (both sensual and incorporeal).
You can pay your Zakat in the form of donation to support underprivileged families and children. Donations to The Egyptian Orphan Fund goes directly to people in real need.
Allah swt says in the Quran: “take from their wealth so that you might purify and sanctify them” (9:103).
Muslims pay their zakat to help poor people and to purify and bless their wealth and health especially with hard economic and social circumstances. Your zakat donations bring joy to these people, who know that others all over the world haven’t forgotten them.
Zakat is the right of the underprivileged over the wealthy; and the third of the five pillars of Islam.
Over the years we have used zakat to help unfortunate families and children with their daily lives, medical care, food and education.
Who Can Receive Your Zakat?
Zakat cannot be paid randomly to anyone; God specified 8 main categories to people who deserve our Zakat.
Those are:
1. The poor
2. People in need
3. Zakat collectors
4. Those whose hearts are to be reconciled, meaning new Muslims and friends of the Muslim community.
5. Freeing captives
6. People in debts
7. In the path of Allah
8. Wayfarer (Travelers away from their homes and in need)
Zakat is a mandatory duty on all able Muslims who possess wealth at or above a certain threshold. This threshold is called the Nisab. You only pay Zakat if your net assets equal or exceed the Nisab threshold. Zakat should be calculated on 2.5% of all net savings one possesses that is above the nisab value.