Understanding & Calculating Zakah
In the Name of Allâh, the Most Beneficent, the Most Merciful
The Islamic importance of Zakah (annually donating a portion of one’s wealth to the needy), as one of the five core pillars upon which the entire Islamic faith is built is widely recognised. However, whilst many Muslims will be well read in how to perform the daily prayers, or how to complete the fasts during the month of Ramadhan they are often uncertain of how to properly discharge their Zakah obligation.
In our view this uncertainty stems from the difficulties faced when attempting to apply Zakah ruling to the bewildering range of contemporary and ever changing financial assets owned by many Muslims such as stocks and shares, pension plans, ISAs, Child Trust Funds, second homes, etc.
1st Ethical have therefore, devoted many hours of painstaking research into the common issues facing Muslims in this field, and have prepared the following three resources which we feel will greatly assist those wishing to discharge their Zakah obligations in an Islamically correct manner.