Zakat is an Islamic finance term referring to the obligation that an individual has to donate a certain proportion of wealth each year to charitable causes. Zakat is a mandatory process for Muslims and is regarded as a form of worship.

What is the meaning of zakat is?

As one of the pillars of Islam, zakat is a form of obligatory charity that has the potential to ease the suffering of millions. With the literal meaning of the word being 'to cleanse,' Muslims believe that paying zakat purifies, increases and blesses the remainder of their wealth.

When should zakat be paid?

Zakat should be paid once every year. The day a Muslim becomes the owner of minimum wealth that makes Zakat payable, they must calculate and pay the amount in the period of exactly one lunar year from this day. As Zakat is a responsibility, it is not permitted to delay payment when due.