What is the literary meaning of Zakat?
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.
What is the original meaning of Zakat?
to purify
It came from Arabic root ز ك و, meaning to purify. Zakat is considered a way to purify one’s income and wealth from sometimes worldly, impure ways of acquisition.
What is the objective of Zakat?
The main objective of zakat is to achieve socio-economic justice. With respect to the economic dimensions of zakat, it is aimed to achieve the favorable effects on several dimensions such as aggregate consumption, savings and investment, aggregate supply of labor and capital, poverty eradication and economic growth.
What is Zakat example?
Zakat literally means “alms”, and there are different kind of Alm’s, e.g. Zakat ul-Fitr (Alms of the fast-breaking) or Zakat ul-Maal (Alms of the Wealth). The implied Zakat that makes up the pillar of islam is Zakat ul-Maal, which mandates muslim to donate 2.5% of their personal wealth to those in need, annually.
What is the literal and idiomatic meaning of zakat?
The literal meaning of Zakat is to increase, technical meaning is purification. • Here, to give Zakat implies purifying your wealth and soul by giving a portion of your wealth to those in need every year in the month of Ramadan Page 2 – ‟ „Take from their wealth so that you might purify and sanctify them.
What are types of zakat?
There are two types of Zakat that Muslims are obligated to pay: Zakat Al-Mal, or Zakat on Wealth, and Zakat Al-Fitr, the Zakat of Fast-Breaking, for the completion of the fasting month of Ramadan.
What is the role of zakat in our society?
The system of Zakat ensures proper distribution of wealth and has a wide impact on the entire setup of society. If Zakat is established as an institution, it will create a collective social security scheme for mutual help/sympathy and resources can be further utilized for social development.
Why zakat is important for society?
The Benefits of Giving Zakat It purifies your wealth as Allah says in the Qur’an: It keeps one away from sin and saves the giver from the moral ill arising from the love and greed of wealth. Through Zakat, the poor are cared for; these include widows, orphans, the disabled, the needy and the destitute.
What are the 8 categories of zakat?
8 Kinds of People Who Can accept Zakat:
- The poor.
- The needy.
- Zakat administrators.
- Those whose hearts are to be reconciled, meaning new Muslims and friends of the Muslim community.
- Those in bondage (slaves and captives.)
- The debt-ridden.
- In the cause of God.
What does zakat in Arabic mean?
that which purifies
Zakat is a cornerstone of Islamic social finance. A tax on wealth and income, zakat (Arabic: azkāt, “that which purifies”) is a type of obligatory alms-giving.