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Zakat falls due when three conditions converge for a person and his wealth: One is a Muslim. One's zakatable wealth rises to a minimum threshold (nisab). A lunar year (hawl) passes while one's zakatable wealth sustains the minimum threshold.

Zakat (zakaat, zakah) is due once a year. However, a Muslim only pays Zakat when they have been in possession of the Nisab (minimum amount of wealth) for one full lunar year.

How Much is Zakat? ing to Zakat rules, the amount is charged at a rate of 2.5%. This means you should donate 2.5% of your wealth, which exceeds the nisab value. If you're struggling to work out how much Zakat you need to pay, use our zakat calculator.

In simple terms, Zakat is calculated as 2.5% percent of your savings and financial assets that are not used towards your living expenses. Any income used to pay bills, house payments or essential needs is not included in the calculation.

Zakat falls due when three conditions converge for a person and his wealth: One is a Muslim. One's zakatable wealth rises to a minimum threshold (nisab). A lunar year (hawl) passes while one's zakatable wealth sustains the minimum threshold.

Zakat will only become payable when money from the fund is paid out and received by the contributor. If the pension payments are made after the money has come into the possession of the contributor, then zakat is payable on the money that accumulates in the fund.

As one of the pillars of Islam, Zakat is a form of obligatory charity that has the potential to ease the suffering of millions. With the literal meaning of the word being 'to cleanse,' Muslims believe that paying Zakat purifies, increases and blesses the remainder of their wealth.

As one of the pillars of the faith, it requires all Muslims to donate a portion of their wealth to charity. Muslims must meet a certain threshold before they can qualify for zakat. The amount is 2.5% or 1/40 of an individual's total savings and wealth. Zakat can be paid at any time during the lunar year.