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Zakat is the 4th pillar of Islamic faith.
As one of the pillars of Islam, zakat is a form of obligatory charity that has the potential to ease the suffering of millions. Zakat is calculated on annual savings and 2.5% of which is given in charity.
“And establish prayer and give zakat, and whatever good you put forward for yourselves – you will find it with Allah.” (2:110, Qur’an)
With the literal meaning of the word being ‘to cleanse,’ Muslims believe that paying zakat purifies, increases and blesses the remainder of their wealth.
Zakat is also a spiritual connection to one’s maker – to purify your wealth for the will of Allah is to acknowledge that everything we own belongs to Him, and it is for Him that we strive to end poverty and help our brothers and sisters.
Zakat is paid to deserving people so that there is equitable distribution of wealth in the society. Ideally, a Muslim society should be free from poverty and Zakat helps us to achieve this target.