Zakat is an Islamic financial term. As one of the pillars of the faith, it requires all Muslims to donate a portion of their wealth to charity.
January 16, 2020
Zakat ul-Mal: It is an annual obligation, and while many Muslims choose to pay it during Ramadan for the increased spiritual rewards, it is not specifically tied to Eid.
Zakat ul-Fitr: This is a special Zakat specifically related to Eid al-Fitr.
It is a mandatory charitable donation given before the Eid prayer, marking the end of Ramadan.
A primary purpose of Zakat al-Fitr is to ensure that everyone, especially the poor and needy, can partake in the joy of Eid al-Fitr.
How Do You Calculate Zakat?
Muslims should take inventory of their possessions and wealth. Once they reach nisab or the threshold, which is the value of 87.48 grams of gold or 612.36 grams of silver, they must pay zakat.
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