• Zakat is a major pillar of Islam and is defined as the portion of a man's wealth designated for the poor.
• The Holy Prophet described Zakat as wealth taken from the rich and given to the poor.
• The Prophet said: "It (Zakat) should be collected from the well-to-do and distributed to the poor."
• The word Zakat is derived from "Zaka" which means to increase or to bless, and also carries the sense of purification.
• The Quran says: "Take alms from their wealth to purify and sanctify them." (9:103)
• The Prophet said: "Allah has enjoined Zakat upon you so that the rest of your wealth is cleared through it."
• Zakat makes wealth grow and is a source of purification for the giver's heart, removing love of wealth, greed, and selfishness.
• Zakat benefits humanity, unlike prayer, fasting, and pilgrimage, which benefit only the individual.
• By paying Zakat, a Muslim performs their duty and their obligation towards poor Muslims.
• The Quran also says: ".... And establish regular prayer and give regular charity..." (73:20)
• The Quran states that believers are those who "believe in the Unseen, are steadfast in prayer and spend of what We have provided for them." (2:3)
• Regular payment of Zakat is an attribute of a true believer, while denying Zakat is a sign of unbelievers.
• Hazrat Abu Bakr, the first Khalifa, emphasized the importance of Zakat.
• The Quran says that those who do not pay Zakat will face punishment.
• Zakat is the backbone of the economic system of Islam, preventing wealth from accumulating in a few hands.

RATE OF ZAKAT

• The rate of Zakat was defined at Madinah.
• Zakat is payable on cash, gold, silver, jewelry, crops, animals, minerals, agricultural lands, and commercial goods.
• Zakat is payable by every adult, free Muslim who owns property worth the prescribed rate called Nisab.
• Zakat is payable if the property has remained in the owner's possession for one full year.