Zakat (Obligatory Charity)
Zakat is a certain fixed portion of the wealth and property that a Muslim is obliged to pay yearly for the benefit of the poor in the Muslim community. The payment of Zakat is obligatory, as it is one of the five pillars of Islam. Zakat is the major economic means for establishing social justice and leading the Muslim society towards prosperity and security.
Every Muslim who owns a fixed, minimum amount of wealth (called Nisab), and who satisfies certain other conditions, must pay Zakat. The Qur'an mentions Zakat in many places. For example, Allah (S.W.T)says:
"Take Sadaqah (obligatory charity) from their wealth in order to purify them and sanctify them with it, and invoke Allah for them. Verily, your invocations are a source of security for them, and
Allah is All-Hearer, All-Knower."(9:103)
Zakat has also been mentioned by Prophet Muhammad (Peace be upon Him) in many Ahadith
(recorded statements and deeds of Prophet Muhammad (Peace be upon Him).The Prophet (Peace be upon Him) said:
"Islam was built on five (pillars): testifying that none has the right to be worshipped but Allah and that Muhammad (Peace be upon Him), is the Messenger of Allah;establishing the prayer (perfectly and on time); paying Zakat; performing pilgrimage to the House (the Ka 'bah); and fasting Ramadhan"
(Al-Bukhari and Muslim)
Zakat has been made obligatory on Muslims for an honorable wisdom and to bring about many noble benefits.Zakat purifies one's property and earnings, increases them