Zakat as an Arabic word means purification or growth. It is obligatory on all those who are able to do so. The moral behind this is to inculcate the sense of collective responsibility wherein the rich are obliged to ease the hardship of those who Allah has made less- privileged. Allah SWT told the prophet SAW in Q9:103 'of their goods, take Zakat, so that you might purify and sanctify them'. The refusal of an able Muslim to pay the Zakat is an act of disobedience and hypocrisy, may Allah save us from that. If the rich give zakat, the poor wouldn't be hungry. Paying the zakat also serves as a means of purifying ones wealth so that one amasses more barakah on what one earns.
WHEN IS ZAKAT DUE?
Zakat becomes due to be paid after the passage of one lunar year, with the money still in the control of the owner.
Zakat also becomes due after the owner has deducted all the amount he owes in debt, monies he borrowed from others, if the amount left still reaches the necessary Nisab, then zakat should be paid on it.
AMOUNT TO BE PAID
One must first be conversant with the Nisab applicable in ones area. Nisab means the minimum monetary value. The last I heard, Nisab is 700,000 Naira. It might have increased or reduced, I'll recommend that we consult our local imams for the appropriate Nisab, and I hope we'll be kind enough to share the information in the comments section. If the Nisab is still 700,000, then 2.5% of that amount will be paid as zakat which is N17,500. In essence, if you have 700,000 naira and above, and such amount has rested in your account for up to one year, then zakat should be paid on it.
WOMEN! YOUR GOLD!
Women who possess gold are not exempt from paying zakat on them, as long as they meet the requisite Nisab, which is 85 grams of gold, but please still take a step further by confirming the Nisab applicable in your area. There is the Nisab for Gold and of silver. After determining the Nisab, do take all your gold to the Goldsmith or merchant for weighing.
From the provisions of surah Tawbah 9:60, the following can be deduced.
- Al-Masakin- the restrained because they can't meet their basic needs
- Amiuna aleyha- the Zakat collector himself
- Fir Riqab- people whom one is attempting to free from slavery/ bondage
- Al- gharimin- those who have incurred overwhelming debts while attempting to satisfy basic needs
- Fisebililah- those working in God's way
- Ibnus Sabil- Children of the street or traveller
Zakat shouldn't be given to ones parents, grandparents, children, grandchildren or spouses.
ZAKAT AL MAL AND ZAKAT AL FITR, ANY DIFFERENCE?
Yes. As a matter of fact. Zakat al fitr is the sadaqa given at the end of the Ramadan fast, while zakat Al mal is paid in relation to saved money. It can be paid at anytime as long as the Nisab has been in ones possession for one lunar year. While only the rich pay zakat Al mal, both the poor and the Rich pay Zakat Al fitr, as long as the poor Has food for one day. Also, zakat Al mal is a fourth of a tenth 2.5% of ones wealth, zakat Al fitr is two qadahs, old measure of rice, wheat, or any usual food In The area.
I sincerely hope I have succeeded in breaking down the concept of zakat, for comments, questions and contributions, please do leave your comments in the box below.