How to Calculate and Pay Zakat
01/02/2025
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How do I calculate the amount of zakat I owe and to whom should it be paid?
Zakat is the third pillar of Islam and is obligatory upon every Muslim who possesses wealth above the nisab (minimum threshold) for one lunar year.
Calculating Zakat
The general rate of zakat is 2.5% of one's total eligible wealth. This includes savings, gold, silver, investments, and business inventory.
Recipients of Zakat
The Quran specifies eight categories of recipients: the poor, the needy, zakat collectors, those whose hearts are to be reconciled, freeing slaves, those in debt, in the cause of Allah, and travelers in need.
Source
- Quran 9:60, various fiqh sources