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Zakat

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English: religious tax

Alternate spelling: Zakah

Definition: An obligatory contribution which every wealthy Muslim is required to pay to the Islamic state, or to distribute amongst the poor.

According to Islam, zakat – the third pillar of Islam – purifies wealth and souls. Zakat is levied on cash, cattle, agricultural produce, minerals, capital invested in industry and business.

There are two types of zakat:
Zakat al Fitr, which is payable by every Muslim able to pay at the end of Ramadan. This is also called Zakat al Nafs (poll tax).
Zakat al Maal is an annual levy on the wealth of a Muslim above a certain level. The rate paid differs according to the type of property owned.

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Corporate Zakat to bail out microfinance customers?

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New Maldivian Zakat program earmarks financial instruments for families in need

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Thursday, 25 Aug 2022 | Volume19.Issue35

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Tuesday, 24 May 2022 | Volume19.Issue21

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Friday, 22 Apr 2022 | Volume19.Issue17

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Thursday, 31 Mar 2022 | Volume19.Issue14

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Bursa disburses Zakat grants

Tuesday, 29 Mar 2022 | Volume19.Issue13

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PPZ-MAIWP sees increase in Zakat payers

Thursday, 27 Jan 2022 | Volume19.Issue05

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Friday, 17 Dec 2021 | Volume19.Issue01

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Takaful Ikhlas pays Zakat obligations

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Tuesday, 02 Nov 2021 | Volume18.Issue44

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Wednesday, 06 Oct 2021 | Volume18.Issue41

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Friday, 01 Oct 2021 | Volume18.Issue40

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Tuesday, 07 Sep 2021 | Volume18.Issue36

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Toward measuring the performance of Zakat institutions

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Wednesday, 23 Jun 2021 | Volume18.Issue26

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Monday, 10 May 2021 | Volume18.Issue19

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Tuesday, 20 Apr 2021 | Volume18.Issue16

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Tuesday, 13 Apr 2021 | Volume18.Issue15

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PTPTN contributes Zakat to MAIPs

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Tuesday, 30 Mar 2021 | Volume18.Issue13

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Thursday, 25 Mar 2021 | Volume18.Issue13

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Friday, 19 Feb 2021 | Volume18.Issue08

Asset Management