Zakat is the third of the five Pillars of Islam. It is an obligatory payment that is due from all Muslims whose personal wealth meets and/or exceeds the Nisab threshold.
Q. What is the meaning of zakat?
Zakat means to purify one’s wealth by making an obligatory donation to help those less fortunate. Zakat aims to create a balanced society where those in need do not have to go without.
Q. Who is eligible to pay zakat?
Adults who are of sound mind are eligible to pay Zakat as long as they meet the required Nisab threshold. In order to be eligible to pay Zakat, your level of expendable wealth must remain higher than the Nisab value for a full year. This is when your Zakat payment will be due.
Children are not expected to pay Zakat until they reach puberty. Before adulthood or the age of puberty, no Zakat is due even if the Nisab value has been reached for several years.