How to calculate zakat?
One of the pillars of Islam, Zakat, is a potentially eternal charity system that opposes capitalism. It prevents the poor from remaining poor indefinitely and offers them the opportunity to try to survive, educate themselves, and establish a status-evolving advancement.
Zakat is simply a fraction of money that every Muslim who is capable and has sufficient funds must pay. It is a small amount of money that, when pooled across the Ummah, adds up to a large sum, enough to end all suffering in the world.
Your Zakat gift should be equal to 2.5% of your overall wealth for the year. The nisab value has a strong connection to the current gold and silver prices. The nisab value is mentioned in the Holy Qur’an as 612.36g of silver or 87.48g of gold. Shares, cash, gold, pensions, silver, company items, and income from investment property are all included in the Zakat calculation.
Furniture, cars, food, housing, and clothes (unless used for business purposes) are not covered.
Zakat is an obligation that must be fulfilled. Have you determined your zakat? It is always the smallest portion of our savings that infuses blessing and wealth into your account.
