Sunday, October 12, 2008

Islamic Relief USA - Ramadan - Zakah Calculator

Zakah (required alms giving) is a duty on every mature and sane Muslim once every lunar year. In giving Zakah, a person is purifying their property, as well as their heart from all forms of greed or selfishness.

Zakah is payable at 2.5% of the wealth one possesses above the Nisab. This is the minimum amount of wealth one must have before they are liable to pay Zakah. This is equal to 3 ounces of gold. As of August 29 2008, this is estimated to be $2,494.62.

Zakah is liable on gold, silver, cash, savings, investments, rent income, business merchandise and profits, shares, securities and bonds.

Zakah is not paid on wealth used for debt repayment of living expenses such as clothing, food, housing, transport, education, etc.

Islamic Relief collects and distributes Zakah to those Muslims who are most in need, in accordance with Qur'anic guidelines.

To work out how to calculate your Zakah, fill out the form below. Remember you only pay Zakah if the zakatable total exceeds the Nisab.

Islamic Relief USA | Ramadan - Zakah Calculator

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