Zakat & Fidyah
“O, you who believe! Spend of the good things which you (legally) earned,
and of that which We have produced from the earth for you…”
[Al-Baqarah: Verse 267]
“(The superstructure of) Islam is raised on five (pillars): to utter an attestation of faith, performance of prayer, payment of Zakat, fast of Ramadan and pilgrimage (to Makkah).” (Narrated by Ibnu Umar R.A.)
Zakat as translated from Arabic means growth, multiplicity, fertility, cleansing, full of baraqah.
Zakat is the 3rd pillar of Islam and is the determined share of wealth prescribed by Allah S.W.T. to be distributed to the 8 asnaf (categories) entitled to receive it. It is an ibadah in terms of wealth.(can I propose for you to check with Ustaz Ziyad on this term) A symbol of Islamic social justice, Zakat cleanses your soul, purifies and grows your wealth while eradicating poverty.
Significance of Zakat for the Individual
- Purifies and promotes assets.
- Develops gratitude for Allah’s bounty.
- Brings about a sense of peace and well-being.
Significance of Zakat for Society
- Minimizes the feeling of envy among those who are less well-to-do.
- Provides a religiously-approved method of managing the society’s economy and finance.
- Makes it possible for part of the wealth of the rich to be distributed among the poor.
4 Conditions of Zakat
- The person is a Muslim.
- The person has full ownership of the wealth.
- Nisab is reached: Nisab is the market value of 86 grams of gold.
- Haul is reached: Possession of the assets for one Hijrah year or 355 days.
Types of Zakat on Wealth in Singapore
- Zakat on Savings
- Zakat on CPF
- Zakat on Business
- Zakat on Gold
- Zakat on Shares
- Zakat on Insurance
- Zakat Fitrah
For more information on the types of Zakat, see: http://www.zakat.sg/About-Zakat/types.html
Darul Makmur Mosque is an Authorised Collection Centre for Zakat and Fidyah.
Visit our General Office during our opening hours, or contact us at 6752 1402.