Zakah means to purify one’s wealth. Zakat has been obligated in the Quran and Sunnah. Allah said in the Quran ‘“And establish prayer and give zakāh…..” (2:43).
Zakat is the third pillar of Islam as is mentioned in authentic ahadeth in Sahih Bukhari and Muslim:
‘”Islam has been built on five [pillars]: testifying that there is no god worthy of worship but Allah and that Muhammed is the messenger of Allah, performing the prayers, paying the zakat, making the pilgrimage to the House, and fasting in Ramadan
At a very basic level, zakat is payable on wealth that is above a threshold (nisaab). Once your wealth reaches that level, you must pay 2.5% of that wealth to someone who is deserving of zakat.
Gold, silver, cash
Zakat is not paid on some types of jewellery such as diamonds and platinum. Also, Zakat is not paid on houses, cars, or other property (but it is paid on income earned through rent and profit from investments)
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