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1 GOLD SILVER Ornaments or silver which is not in the form of coins. 2 PAPER CURRENCY 3 LIFE INSURANCE POLICIES 4 BANK ACCOUNTS All types including Saving Bank Current deposit Notice Deposit Fixed Deposit and similar accounts by whatever name described with the banks Post Offices National Savings centers and Financial Institutions etc* 5 SECURITIES Saving Certificates and accounts thereof Prize Bonds Government Securities etc* 6 FUNDS Provident fund Gratuity Annuity etc* LOANS given to other an ...

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What is the Zakat in Islam?

Zakat (zakaat, zakah), or almsgiving, is one of the five pillars of Islam. This means that Zakat is mandatory for Muslims, along with the other four sacred pillars of prayer (salah), fasting (sawm), pilgrimage (Hajj) and belief in Allah and His Messenger, Prophet Muhammad (peace be upon him) (shahadah).

What is the purpose of Zakat?

As one of the pillars of Islam, Zakat is a form of obligatory charity that has the potential to ease the suffering of millions. With the literal meaning of the word being to cleanse, Muslims believe that paying Zakat purifies, increases and blesses the remainder of their wealth.

Who is eligible for Zakat?

To be eligible to receive zakat, the recipient must be poor and/or needy. A poor person is someone whose property, in excess of his basic requirements, does not docHub the nisab threshold. The recipient must not belong to your immediate family; your spouse, children, parents and grandparents cannot receive your zakat.

How to make Zakat Affidavit?

solemnly declare and affirm that we know the above deponent(s) and identify him/her/them as the same person(s) as described above. The above declaration has been solemnly on oath before me on this , by the above deponent(s) in presence of witnesses and identified the above deponent(s).

What is a Zakat form?

Zakat (Arabic: زكاة; [zaˈkaːt], that which purifies, also Zakat al-mal [zaˈkaːt alˈmaːl] زكاة المال, zakat on wealth, or Zakah) is a form of almsgiving, often collected by the Muslim Ummah. It is considered in Islam as a religious obligation, and by Quranic ranking, is next after prayer (salat) in importance.

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Who are the 8 recipients of Zakat?

Zakat al-Fitr recipients The poor (Al-Fuqara). The needy (Al- Masakin). The administrators. Those whose hearts are to be reconciled; (new Muslims and the friends of the Muslim community). Those in bondage (slaves and captives). The debt- ridden. In the cause of Allah.

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What is the Zakat in Islam?

What is the purpose of Zakat?

Who is eligible for Zakat?

How to make Zakat Affidavit?

What is a Zakat form?

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Who are the 8 recipients of Zakat?

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