Zakat
Zakat
Zakat (الزكاة) literally means purification and growth. It is a mandatory act of worship where eligible Muslims donate a fixed portion (typically 2.5%) of their wealth annually to those entitled to receive it.
“Take from their wealth a charity by which you purify them and cause them to increase, and invoke [Allah’s blessings] upon them.”
— Surah At-Tawbah (9:103)
Zakat purifies the heart from greed and cleanses wealth from any impermissible elements, fostering spiritual growth and social balance.
Zakat Calculation & Assessment
- Cash and bank balances
- Gold and silver
- Shares and investments
- Business inventory and receivables
- Agricultural produce and livestock
- Retirement accounts and crypto assets (as per scholarly opinion)
Zakat on Business & Corporations
Specialized calculation of Zakat on business assets, corporate funds, inventory, and receivables. We guide corporate leaders in fulfilling their Zakat obligations responsibly and ethically.
Zakat for Investment Portfolios
With the growing complexity of financial instruments, we offer Sharia-based rulings and tailored advice on Zakat liability for:
1.Equity investments
2. Mutual funds
3.Sukuk (Islamic bonds)
4.Cryptocurrencies and digital assets (per contemporary fiqh councils)
Who is Eligible to Receive Zakat?
- The poor (al-fuqara)
- The needy (al-masakin)
- Zakat administrators
- Those in bondage (slaves or captives)
- Those whose hearts are to be reconciled
- Those in debt
- In the cause of Allah (fi sabilillah)
- The wayfarer (travelers in need)
Authenticity & References
- The Qur’an: Especially Surah Al-Baqarah (2:267), Surah At-Tawbah (9:60, 103)
- Hadith: Including Sahih Bukhari, Sahih Muslim, and Abu Dawud
- Classical Fiqh Texts: From all four madhahib
- Contemporary Authorities: Resolutions from bodies such as AAOIFI, Islamic Fiqh Academy, and national Zakat councils
Why Choose Sharia Advisory Council?
- Guided by qualified Sharia scholars with deep financial expertise
- Trusted by individuals, businesses, and Islamic institutions
- Accurate, confidential, and faith-centered Zakat services
- Tailored advice with support for both traditional and modern assets