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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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News related to Zakat (1,235)

UNHCR expands Zakat fund

Tuesday, 07 Sep 2021 | Volume18.Issue36

Toward measuring the performance of Zakat institutions

Tuesday, 17 Aug 2021 | Volume18.Issue33

KNEKS works on Zakat development

Thursday, 01 Jul 2021 | Volume18.Issue27

Sadaqah and Zakat donations made easier with Feeling Blessed

Wednesday, 23 Jun 2021 | Volume18.Issue26

IFN Correspondent Reports

Qatar’s Zakat fund provides funds

Tuesday, 22 Jun 2021 | Volume18.Issue25

DIB donates Zakat to Emirates Red Crescent

Wednesday, 16 Jun 2021 | Volume18.Issue25

Zakat on inventory and investments

Tuesday, 01 Jun 2021 | Volume18.Issue22

TH Zakat contributions increase

Monday, 10 May 2021 | Volume18.Issue19

PPZ-MAIWP receives Zakat from TH

Friday, 30 Apr 2021 | Volume18.Issue18

Maybank targets increase in Zakat payments

Friday, 30 Apr 2021 | Volume18.Issue18

IIFA supports UNHCR’s Zakat fund initiative

Tuesday, 20 Apr 2021 | Volume18.Issue16

Algeria turns to Zakat and Waqf to support struggling businesses

Tuesday, 13 Apr 2021 | Volume18.Issue15

PTPTN contributes Zakat to MAIPs

Monday, 05 Apr 2021 | Volume18.Issue14

No Zakat charges for Ithmaar Holding

Thursday, 01 Apr 2021 | Volume18.Issue14

Zakat Fund and ADU collaborate

Tuesday, 30 Mar 2021 | Volume18.Issue13

Cryptocurrencies, digital currencies and Zakat

Thursday, 25 Mar 2021 | Volume18.Issue13

IFN Correspondent Reports

Bursa Malaysia contributes Zakat

Wednesday, 03 Mar 2021 | Volume18.Issue10

GAZT withholds Zakat registration of Al-Bilad’s fund

Friday, 19 Feb 2021 | Volume18.Issue08

Asset Management

Zakat treatment in financial statements of Islamic financial institutions

Tuesday, 02 Feb 2021 | Volume18.Issue05

Special Reports

Zakat collection through Amil institutions in tackling impact of COVID-19

Tuesday, 26 Jan 2021 | Volume18.Issue04

Special Reports

PayHalal appointed as digital Zakat channel

Monday, 18 Jan 2021 | Volume18.Issue03

Agrobank makes Zakat donation

Friday, 04 Dec 2020 | Volume17.Issue49

Mulkia REIT Fund enlists Zakat advisor

Thursday, 03 Dec 2020 | Volume17.Issue49

Asset Management

AAOIFI receives feedback on Zakat standard

Monday, 30 Nov 2020 | Volume17.Issue48

Zakat and Islamic financial instruments can be channeled efficiently in India

Friday, 27 Nov 2020 | Volume17.Issue48

IFN Correspondent Reports

Refugee Zakat Fund gets Fatwa

Thursday, 19 Nov 2020 | Volume17.Issue47

IsDB and BAZNAS to pilot Zakat project in Indonesia to support national development programs

Monday, 09 Nov 2020 | Volume17.Issue45

Zakat distribution in the Maldives

Wednesday, 21 Oct 2020 | Volume17.Issue43

IFN Correspondent Reports

Zakat: A relief provider for Central Africa

Friday, 09 Oct 2020 | Volume17.Issue41

IFN Correspondent Reports

Maldives uses Zakat fund for medical assistance

Monday, 17 Aug 2020 | Volume17.Issue33

AAOIFI exposure draft on financial reporting for Zakat

Tuesday, 04 Aug 2020 | Volume17.Issue31

MAIWP receives business Zakat payments

Tuesday, 28 Jul 2020 | Volume17.Issue30

PPZ-MAIWP told to simplify Zakat process

Thursday, 23 Jul 2020 | Volume17.Issue30

NZF Worldwide to issue Zakat standards

Friday, 17 Jul 2020 | Volume17.Issue29

AAOIFI issues exposure draft for Zakat

Friday, 10 Jul 2020 | Volume17.Issue28

Waqf and Zakat: Missing opportunities in Maghreb countries

Wednesday, 08 Jul 2020 | Volume17.Issue28

IFN Correspondent Reports

MoU to enhance Zakat compliance

Tuesday, 30 Jun 2020 | Volume17.Issue26

The Maldives: Zakat distribution for 2019 list of registered poor

Friday, 12 Jun 2020 | Volume17.Issue24

IFN Correspondent Reports

Boost expands online Zakat service

Tuesday, 02 Jun 2020 | Volume17.Issue22

Waqf and Zakat can tackle the trauma of COVID-19 in India

Friday, 22 May 2020 | Volume17.Issue21

IFN Correspondent Reports

Zakat and purging on investments in Islamic capital market

Tuesday, 19 May 2020 | Volume17.Issue20

Special Reports

DIB donates to Zakat Fund

Monday, 18 May 2020 | Volume17.Issue20

Islamic fintech start-up facilitates bitcoin Zakat donations

Monday, 11 May 2020 | Volume17.Issue19

IBF Net launches Zakat course

Wednesday, 29 Apr 2020 | Volume17.Issue18

ENOC Group and ERC launch Zakat platform

Monday, 27 Apr 2020 | Volume17.Issue17

MYEG facilitates online Zakat payment

Friday, 24 Apr 2020 | Volume17.Issue17

Zakat funds and moratorium in the Maldives

Friday, 24 Apr 2020 | Volume17.Issue17

IFN Correspondent Reports

MAIWP facilitates online Zakat payment

Thursday, 23 Apr 2020 | Volume17.Issue17

Boost to collect Zakat

Thursday, 23 Apr 2020 | Volume17.Issue17

Pakistan announces new Zakat guidelines

Tuesday, 21 Apr 2020 | Volume17.Issue16

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