Zakat
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.
News related to Zakat (1,372)
CMA introduces Zakat rules for funds
Monday, 29 Aug 2022 | Volume19.Issue35
Asset ManagementTH pays Zakat to MAINPP
Thursday, 25 Aug 2022 | Volume19.Issue35
News BriefsBAZNAS partners with IsDB on Zakat app
Monday, 25 Jul 2022 | Volume19.Issue30
News BriefsZakat as a microfinancing instrument
Tuesday, 24 May 2022 | Volume19.Issue21
Special ReportsUAE to merge Zakat Fund and Waqf authority
Tuesday, 10 May 2022 | Volume19.Issue19
News BriefsIndonesia launches Zakat collection unit
Friday, 22 Apr 2022 | Volume19.Issue17
News BriefsUNHCR releases Zakat report
Thursday, 31 Mar 2022 | Volume19.Issue14
News BriefsBursa disburses Zakat grants
Tuesday, 29 Mar 2022 | Volume19.Issue13
News BriefsPPZ-MAIWP sees increase in Zakat payers
Thursday, 27 Jan 2022 | Volume19.Issue05
News BriefsAmBank Islamic contributes Zakat
Friday, 17 Dec 2021 | Volume19.Issue01
News BriefsTakaful Ikhlas pays Zakat obligations
Monday, 06 Dec 2021 | Volume18.Issue49
Takaful NewsPPZ-MAIWP’s Zakat collection target
Wednesday, 17 Nov 2021 | Volume18.Issue47
News BriefsTH hands over Zakat
Friday, 12 Nov 2021 | Volume18.Issue46
News BriefsZakat microfinancing as a new economic empowerment strategy in Malaysia
Tuesday, 02 Nov 2021 | Volume18.Issue44
Special ReportsBazeem settles Zakat claims with GAZT
Wednesday, 06 Oct 2021 | Volume18.Issue41
News BriefsBAZNAS requests Fatwa on Zakat
Friday, 01 Oct 2021 | Volume18.Issue40
News BriefsUNHCR expands Zakat fund
Tuesday, 07 Sep 2021 | Volume18.Issue36
News BriefsToward measuring the performance of Zakat institutions
Tuesday, 17 Aug 2021 | Volume18.Issue33
FeaturesKNEKS works on Zakat development
Thursday, 01 Jul 2021 | Volume18.Issue27
News BriefsSadaqah and Zakat donations made easier with Feeling Blessed
Wednesday, 23 Jun 2021 | Volume18.Issue26
IFN Correspondent ReportsQatar’s Zakat fund provides funds
Tuesday, 22 Jun 2021 | Volume18.Issue25
News BriefsDIB donates Zakat to Emirates Red Crescent
Wednesday, 16 Jun 2021 | Volume18.Issue25
News BriefsZakat on inventory and investments
Tuesday, 01 Jun 2021 | Volume18.Issue22
FeaturesTH Zakat contributions increase
Monday, 10 May 2021 | Volume18.Issue19
News BriefsPPZ-MAIWP receives Zakat from TH
Friday, 30 Apr 2021 | Volume18.Issue18
News BriefsMaybank targets increase in Zakat payments
Friday, 30 Apr 2021 | Volume18.Issue18
News BriefsIIFA supports UNHCR’s Zakat fund initiative
Tuesday, 20 Apr 2021 | Volume18.Issue16
News BriefsAlgeria turns to Zakat and Waqf to support struggling businesses
Tuesday, 13 Apr 2021 | Volume18.Issue15
IFN ReportsPTPTN contributes Zakat to MAIPs
Monday, 05 Apr 2021 | Volume18.Issue14
News BriefsNo Zakat charges for Ithmaar Holding
Thursday, 01 Apr 2021 | Volume18.Issue14
News BriefsZakat Fund and ADU collaborate
Tuesday, 30 Mar 2021 | Volume18.Issue13
News BriefsCryptocurrencies, digital currencies and Zakat
Thursday, 25 Mar 2021 | Volume18.Issue13
IFN Correspondent ReportsBursa Malaysia contributes Zakat
Wednesday, 03 Mar 2021 | Volume18.Issue10
News BriefsGAZT withholds Zakat registration of Al-Bilad’s fund
Friday, 19 Feb 2021 | Volume18.Issue08
Asset ManagementZakat treatment in financial statements of Islamic financial institutions
Tuesday, 02 Feb 2021 | Volume18.Issue05
Special ReportsZakat collection through Amil institutions in tackling impact of COVID-19
Tuesday, 26 Jan 2021 | Volume18.Issue04
Special ReportsPayHalal appointed as digital Zakat channel
Monday, 18 Jan 2021 | Volume18.Issue03
News BriefsAgrobank makes Zakat donation
Friday, 04 Dec 2020 | Volume17.Issue49
News BriefsMulkia REIT Fund enlists Zakat advisor
Thursday, 03 Dec 2020 | Volume17.Issue49
Asset ManagementAAOIFI receives feedback on Zakat standard
Monday, 30 Nov 2020 | Volume17.Issue48
News BriefsZakat and Islamic financial instruments can be channeled efficiently in India
Friday, 27 Nov 2020 | Volume17.Issue48
IFN Correspondent ReportsRefugee Zakat Fund gets Fatwa
Thursday, 19 Nov 2020 | Volume17.Issue47
News BriefsIsDB and BAZNAS to pilot Zakat project in Indonesia to support national development programs
Monday, 09 Nov 2020 | Volume17.Issue45
IFN ReportsZakat distribution in the Maldives
Wednesday, 21 Oct 2020 | Volume17.Issue43
IFN Correspondent ReportsZakat: A relief provider for Central Africa
Friday, 09 Oct 2020 | Volume17.Issue41
IFN Correspondent ReportsMaldives uses Zakat fund for medical assistance
Monday, 17 Aug 2020 | Volume17.Issue33
News BriefsAAOIFI exposure draft on financial reporting for Zakat
Tuesday, 04 Aug 2020 | Volume17.Issue31
ColumnMAIWP receives business Zakat payments
Tuesday, 28 Jul 2020 | Volume17.Issue30
News BriefsPPZ-MAIWP told to simplify Zakat process
Thursday, 23 Jul 2020 | Volume17.Issue30
News BriefsNZF Worldwide to issue Zakat standards
Friday, 17 Jul 2020 | Volume17.Issue29
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