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 (1,081)
PayHalal 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
News BriefsAAOIFI issues exposure draft for Zakat
Friday, 10 Jul 2020 | Volume17.Issue28
News BriefsWaqf and Zakat: Missing opportunities in Maghreb countries
Wednesday, 08 Jul 2020 | Volume17.Issue28
IFN Correspondent ReportsMoU to enhance Zakat compliance
Tuesday, 30 Jun 2020 | Volume17.Issue26
News BriefsThe Maldives: Zakat distribution for 2019 list of registered poor
Friday, 12 Jun 2020 | Volume17.Issue24
IFN Correspondent ReportsBoost expands online Zakat service
Tuesday, 02 Jun 2020 | Volume17.Issue22
News BriefsWaqf and Zakat can tackle the trauma of COVID-19 in India
Friday, 22 May 2020 | Volume17.Issue21
IFN Correspondent ReportsZakat and purging on investments in Islamic capital market
Tuesday, 19 May 2020 | Volume17.Issue20
Special ReportsDIB donates to Zakat Fund
Monday, 18 May 2020 | Volume17.Issue20
News BriefsIslamic fintech start-up facilitates bitcoin Zakat donations
Monday, 11 May 2020 | Volume17.Issue19
IFN ReportsIBF Net launches Zakat course
Wednesday, 29 Apr 2020 | Volume17.Issue18
News BriefsENOC Group and ERC launch Zakat platform
Monday, 27 Apr 2020 | Volume17.Issue17
News BriefsMYEG facilitates online Zakat payment
Friday, 24 Apr 2020 | Volume17.Issue17
News BriefsZakat funds and moratorium in the Maldives
Friday, 24 Apr 2020 | Volume17.Issue17
IFN Correspondent ReportsMAIWP facilitates online Zakat payment
Thursday, 23 Apr 2020 | Volume17.Issue17
News BriefsBoost to collect Zakat
Thursday, 23 Apr 2020 | Volume17.Issue17
News BriefsPakistan announces new Zakat guidelines
Tuesday, 21 Apr 2020 | Volume17.Issue16
News BriefsUNHCR to raise Zakat funds to assist coronavirus-impacted refugee communities
Monday, 20 Apr 2020 | Volume17.Issue16
IFN ReportsSME Bank contributes Zakat for COVID-19 fight
Wednesday, 08 Apr 2020 | Volume17.Issue15
News BriefsDeadline for Zakat repository submissions extended
Wednesday, 25 Mar 2020 | Volume17.Issue13
News BriefsFund manager to pay Al-Maather REIT’s overdue Zakat
Tuesday, 10 Mar 2020 | Volume17.Issue10
Asset ManagementGAZT seeking feedback on new Zakat system
Thursday, 05 Mar 2020 | Volume17.Issue10
News BriefsExpanding renewable energy landscape in Indonesia through Zakat
Tuesday, 03 Mar 2020 | Volume17.Issue09
Special ReportsAAIIBP delivers first Zakat assistance
Wednesday, 19 Feb 2020 | Volume17.Issue08
News BriefsState to bear Zakat and income tax on riyal Sukuk
Friday, 03 Jan 2020 | Volume17.Issue01
News BriefsQard and Zakat
Tuesday, 10 Dec 2019 | Volume16.Issue49
Shariah PronouncementNew Zakat collection rules effective January 2020
Tuesday, 10 Dec 2019 | Volume16.Issue49
News BriefsThe future impact of Zakat in the new financial and digital economy
Tuesday, 03 Dec 2019 | Volume16.Issue48
Special ReportsZakat collection increases in Melaka
Friday, 29 Nov 2019 | Volume16.Issue48
News BriefsMalaysia mulls Waqf and Zakat for low-cost housing
Tuesday, 26 Nov 2019 | Volume16.Issue47
News BriefsKram to establish Zakat fund
Monday, 25 Nov 2019 | Volume16.Issue47
News BriefsNew Saudi Zakat rule to apply to companies
Monday, 18 Nov 2019 | Volume16.Issue46
News BriefsBonyan REIT to start paying Zakat
Friday, 11 Oct 2019 | Volume16.Issue41
Asset ManagementSIDC settles Zakat claims with GAZT
Thursday, 03 Oct 2019 | Volume16.Issue40
News BriefsMalaysia’s ZakatTech could be launched by October
Thursday, 22 Aug 2019 | Volume16.Issue34
News BriefsZakat Fund spends on tuition fees project
Friday, 26 Jul 2019 | Volume16.Issue30
News BriefsMedGulf settles Zakat claims with GAZT
Wednesday, 03 Jul 2019 | IFN Saudi Report 2019
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