How to Calculate Zakat On Shares

The exact meaning of the Arabic word Zakat is to grow in goodness, prosperity and the purification of soul and the wealth. The act of giving Zakat is purifying one’s wealth to gain God’s blessings for the wealth to grow in goodness. Khaira Ummah known as the vision of the best community, Zakat is the major economic contribution that brings the Muslim society towards prosperity, security, and social justice. It also reduces the difference between the rich and poor.

Zakat is the compulsory giving of a fixed proportion of one's wealth to charity. It is considered as a type of worship and self-purification. Zakat is one of five pillars of Islam. Zakat is not the charitable gifts given out of kindness or generosity, but it is the mandatory giving of 2.5% of one's wealth each year to benefit the poor and the needy.

Islam is a religion that promotes love and peace. It encourages human beings to live in peace and harmony in the world. Islam emphasizes on giving Zakat to fulfill its motto of making the world a better place. Zakat is given to help the poor and needy. It is mandatory upon every adult Muslim of sound mind and means to give Zakat.

Zakat means blessing, purification, growth, and goodness because it purifies the wealth from which it is taken and protects it from misfortunes. Zakat is a determined portion taken from wealth and allocated to the poor, needy and other deserving people. It is mentioned in the Quran, (Surah Al-Taubah, No.9, Verse: 103): “Of their goods take alms, that so thou mightest purify and sanctify them; and pray on their behalf, verily thy prayers are a source of security for them.”

There's nothing more, nothing better than to spend each day of life in the servitude of humanity and at some point of time, when we’ll look at ourselves in the mirror wel feel content at heart, knowing we have fulfilled our responsibilities towards the society and its people. The existence of countless starving, poor, hungry and destitute Muslims and non-Muslims in the world points to the need that we must stand up and put into practice one of the essential teachings of Islam which is charity.

Zakat is a form of charity made compulsory in Islam. Through Zakat, the prosperous and rich people can uplift the poor, help them in trouble and console them in their hardships. Zakat establishes the rights of the poor and the needy, people in debt, slaves or captives and travelers etc.. Zakat can be paid to deserving individuals or groups who fall into one or more of eight Zakatable categories mentioned by the Almighty in the Quran.

The life that we are spending each day is no less than a gift. We should be even more grateful because life has blessed us with so much comfort and pleasure. We have got stability in life as well as family, love, support, care, and warmth to cherish but for an instant think about them who are not as fortunate as we are!

Recently, a story was published on the online news portal about Katherine, who works in the kitchen during the week at a biopharmaceutical company in Cambridge, earning $8.25 an hour from a food service agency to make sandwiches and salads for meetings. On the weekends, she works for two temp agencies, often cooking at Suffolk Downs or catering events on college campuses.

The concept of charitable giving in Quran involves compassion, social justice, sharing, and strengthening of the weak and protecting the most vulnerable in our society. This ethical principle of giving is to correct social ills, reflect the moral values associated with the use of wealth and it is an effort required for the welfare of individuals and communities. In Islam, there are two terms referring to giving money to the needy; Zakat and Sadaqa. From the Islamic context, charity begins by giving money and extends to all acts of kindness and goodness in life, only conducted for the sake of Allah and it is abundantly rewarded by Allah.

Charity is the act of extending love and kindness to others unconditionally, which is a conscious act but the decision is made by the heart, , without expecting a reward. When Charity is carried out selflessly, it is a one-way act where a person gives but asks for nothing in return. It is due to this act of nature that makes it precious and soulful. There are people who believe charity should begin at home but others believe it should originate from the heart.