Zakat is the third of the Five Pillars of Islam, and it acts as a form of almsgiving and religious tax. Muslims must possess a certain level of wealth to be eligible for Zakat, and this is otherwise known as the Nisab threshold. Those with wealth that exceeds the Nisab threshold give Zakat to redistribute wealth among the global Muslim community (Ummah). Not only does this ensure that the less fortunate are taken care of, but it also purifies the giver’s wealth and helps reduce inequality.
The standard percentage for Zakat is 2.5% of a person’s savings and wealth. When wealth exceeds the Nisab threshold, this percentage is applied to the total amount of Zakatable assets.
The main categories of wealth that Zakat is calculated on include the following:
The Zakat calculation process is as follows:
The process of calculating Zakat on salary is:
In order to calculate Zakat on gold, you should follow the below steps:
With the help of GRF’s Zakat Calculator UK, it couldn’t be easier to fulfil your religious obligation and make your Zakat donation. Simply input the required values and our calculator will work out how much to give. Your Zakat can help thousands of families in need, and can provide vulnerable people with the essentials they require to survive.
To donate over the phone, Call: 0161 302 7888 and ask for the fundraising team
To donate by Cheque, please make it payable to Global Rahmah Foundation and send us to: Unit 21, Waters Edge Business Park, Modwen Road, Salford, Manchester, M5 3EZ
To donate by Bank, please use account name Global Rahmah Foundation Sort code: 30-90-89 Account Number: 26800563