Importance, benefits and areas of expenditure of Zakat

Zakat is one of the five pillars of Islam, and it is an essential act of worship for Muslims. Zakat is a form of charitable giving and is compulsory for every Muslim who meets the criteria for paying it. It is a means of purifying one's wealth and giving to those in need. 

In this blog post, we will discuss the importance of Zakat, its benefits, and the areas of expenditure.

Index of Posts

• What is Zakat
• Importance of Zakat
• Benefits of Zakat
• Areas of Expenditure for Zakat
• Conclusion

What is Zakat

Zakat is an obligatory charity that Muslims are required to pay as a fundamental duty of their faith. The word "Zakat" comes from the Arabic word "Zaka," which means to purify or to grow. Zakat is meant to purify the wealth of the Muslim and grow it in the way of Allah. It is considered to be a religious obligation for all Muslims who meet the criteria for payment. Zakat is calculated at a rate of 2.5% of a Muslim's total wealth that has been held for a full lunar year. This includes cash, stocks, bonds, and other financial assets. Zakat is also payable on gold, silver, and other precious metals. However, there are specific criteria that determine whether a Muslim is liable to pay Zakat or not.

Importance of Zakat

Zakat is an essential part of Islamic faith, and it has several important roles. 

• Firstly, it helps Muslims purify their wealth and rid themselves of any greed or selfishness. By giving away a portion of their wealth to those in need, Muslims are reminded that their wealth is not solely theirs but a trust from Allah. It also helps to strengthen the bonds of brotherhood and sisterhood among Muslims by fostering compassion and empathy for the less fortunate.
• Secondly, Zakat is an act of worship that is pleasing to Allah. Allah has promised great rewards for those who give Zakat. In the Quran, Allah says, "And establish prayer and give Zakat, and whatever good you put forward for yourselves - you will find it with Allah. Truly, Allah is Seeing what you do. (Quran 2:110).
• Thirdly, Zakat helps to alleviate poverty and reduce social inequality. The obligation of Zakat ensures that wealth is redistributed from the wealthy to the poor and needy. This creates a more equitable society and helps to reduce the gap between the rich and the poor.

Benefits of Zakat

Zakat has several benefits for both the individual and society as a whole. Some of these benefits include:

• Purification of Wealth: Zakat is a means of purifying one's wealth and ensuring that it is earned through lawful means. It helps to rid the Muslim of any greed or selfishness and promotes a sense of contentment and gratitude.
• Spiritual Growth: Giving Zakat is an act of worship that helps Muslims draw closer to Allah. It helps to strengthen one's faith and increase one's spiritual growth.
• Social Cohesion: Zakat helps to promote social cohesion and strengthens the bonds of brotherhood and sisterhood among Muslims. It fosters compassion and empathy for the less fortunate and encourages Muslims to work together to alleviate poverty and reduce social inequality.
• Alleviation of Poverty: Zakat is a means of alleviating poverty and reducing social inequality. It helps to ensure that the basic needs of the poor and needy are met, such as food, clothing, and shelter.
• Economic Growth: Zakat can also have a positive impact on economic growth. By redistributing wealth from the wealthy to the poor and needy, it can help to stimulate economic activity and create new opportunities for growth.

Areas of Expenditure for Zakat

Zakat can be spent in several areas that are outlined in the Quran. These areas include:

• The Poor: The primary recipient of Zakat is the poor and needy. This includes individuals who do not have enough money to meet their basic needs, such as food, clothing, and shelter. Zakat can be used to provide financial assistance to these individuals, enabling them to meet their basic needs and improve their quality of life.
• The Needy: Zakat can also be spent on individuals who are in debt or who are facing financial difficulties. This includes individuals who are unable to pay off their debts or who are struggling to make ends meet due to unexpected expenses, such as medical bills or emergency repairs.
• The Wayfarer: Zakat can be used to provide assistance to travelers who are in need of financial assistance. This includes individuals who are stranded or who have run out of money while traveling.
• Those Employed to Collect Zakat: Zakat can also be used to pay the salaries of individuals who are employed to collect and distribute Zakat. These individuals play an important role in ensuring that Zakat is collected and distributed in an efficient and effective manner.
• Those Whose Hearts are to be Reconciled: Zakat can also be used to reconcile the hearts of individuals who are in conflict or who are experiencing difficulties in their relationships. This includes providing financial assistance to individuals who are struggling to pay for mediation or counseling services.
• The Ransom of Slaves: Zakat can be used to pay the ransom of slaves who have been taeen taken captive. This includes individuals who have been captured during times of war or who have been sold into slavery.
• The Way of Allah: Zakat can also be used to promote the way of Allah and to support religious institutions, such as mosques and schools. This includes providing financial assistance to individuals who are studying Islamic theology or who are engaged in religious outreach activities.

Conclusion

In conclusion, Zakat is an essential act of worship for Muslims, and it has several important roles. It helps Muslims purify their wealth, draw closer to Allah, and promote social cohesion. It also helps to alleviate poverty and reduce social inequality, which has positive impacts on both individuals and society as a whole. Zakat can be spent in several areas, including providing financial assistance to the poor and needy, paying off debts, reconciling relationships, and promoting the way of Allah. By fulfilling our obligation to pay Zakat, we can contribute to building a more just and equitable society and draw closer to Allah.