"O you who believe! Spend of the good things which you (legally) earned, and of that which We have produced from the earth for you..." (Al-Baqarah: Verse 267)
See more Quranic verses on Zakat and Charity here (PDF , 260KB).
"(The superstructure of) Islam is raised on five (pillars): to utter an attestation of faith, performance of prayer, payment of Zakat, fast of Ramadan and pilgrimage (to Makkah)." (Narrated by Ibnu Umar R.A.)
See more Hadith on Zakat here.
To view Fatwa on Zakat in Singapore, click here.
Zakat as translated from Arabic means growth, multiplicity, fertility, cleansing, full of barakah.
Zakat is the 3rd pillar of Islam and is the determined share of wealth prescribed by Allah S.W.T. to be distributed to the 8 categories entitled to receive it. It is an ibadah in terms of wealth. A symbol of Islamic social justice, Zakat cleanses your soul, purifies and grows your wealth while eradicating poverty.
|Specific rate of 2.5% and minimum level (Nisab)||No specific rate or minimum level|
|Specific period of fulfilment (Haul)||No specific period of fulfilment|
|Specific beneficiary (Asnaf)||No specific beneficiary|
Purifies and promotes assets.
Develops gratitude for Allah's bounty.
Brings about a sense of peace and well-being.
Minimizes the feeling of envy among those who are less well-to-do.
Provides a religiously-approved method of managing the society's economy and finance.
Makes it possible for part of the wealth of the rich to be distributed among the poor.