We discussed last week how Ramadan is one of the Five Pillars of Islam.  Another of these pillars is charity – Zakat whereby donations are given to charity as a good deed.

Zakat is donated by all Muslims who are eligible and as Ramadan is such a celebration of community and faith, Zakat is shared much more freely during Ramadan.  It is also a month of celebrating your many blessings, so it is felt that you are rewarded many times over for your generosity during such a revered time.

The Muslim faith is underpinned by living in a way that we positively impact on humankind, setting good examples and living in a way that supports all around us – community is huge within the Muslim faith.

Paying your zakat is a healthy reminder from Allah that it is your duty to share your wealth and blessings.  We are worldly beings and cannot take our material possessions with us when it is time to move on.

When looking at how much Zakat to pay, there is an obligation to pay 2.5% of your wealth above a specified threshold – the Nisab which changes each year.  

Because our finances change across the year, zakat is based on profits at the end of the lunar year which is also when it is usually paid.  You can use this handy calculator to calculate your zakat where you will need to take into account your earnings, assets and retained wealth during the current lunar year. Zakat is payable on more than your cash assets so you will also need to include:

• business profits,
• shares, bonds or investments,
• money which is owed to you,
• property income

In the same way that Zakat is due by those who are eligible, Hajj is also for Muslims in a position to be able to financially and physically make the journey.  If you’d like more information or would like to book your cheap Hajj or Umrah pilgrimage from the UK, get in touch and with our extensive experience we’ll help you create one of the most precious trips in your lifetime.