Zakat Fund

Created May 06, 2017

Last Updated : May 06, 2017

"Zakat for Poverty Alleviation"

In Bangladesh, the concept of Zakat is still confined to distributing Sari-Lungi among the poor. This is not the proper way of distributing Zakat. The prime objective of Zakat is to ensure equitable distribution of wealth among all. It is unfortunate that Zakat has still not been a part of our culture. This is time to make a move, let's make it a part of our culture to experience how Zakat can make a difference!

*Zakat is mandatory for every wealthy Muslim.

*Zakat purifies the wealth , increases the wealth and protects it from sorts of risk.

*Zakat is the best tool for minimizing economic inequality between the rich and the poor.

* Know how Zakat is making difference in the lives of the disadvantaged.

* Zakat is our lost treasure! Let's revive it!!

In their (rich) properties there was the right of the poor, needy and beggar. (Surah Jariah -19)

To establish the covenant of God (zakat) and prayers.

( Surah Baqarah – 43)

'' To establish the covenant of (zakat) ,To purifies your hard-earned wealth''

‘’Zakat Rights Fund’’ an initiative of BDAID. Penetrating the millions of people who struggle every day to stay alive in our country. Peoples basic needs such as food, clothing, shelter, medical care and education are denied the chance to live a life that underprivileged . Islamic socialism the overall role of collecting Zakat true unlimited. Bring Allah and His Messenger (SM) in accordance with the provisions of the covenant with all of humanity at stake beside poor. BDAID ‘’Zakat Right Fund’’ Zakat is one of the fundamental right to worship Allah, ‘’Zakat Right Fund’’ is designed to collect needy people and support through the distribution of endangered and development works in their lives.

The activities of BDAID to this purposes such as we are running:

1. Earnings and human development programs

2. The Poor children in pre - primary education, and nutrition programs with Islamic Education

3. Scholarship Program for underprivileged meritorious students

4. Needy women and children's health programs

5. Emergency humanitarian assistance programs

6. Technical training programs for unemployed youth

7. Poverty Alleviation.

This year you have to pay Zakat? ‘’Zakat Right Fund’’ - Please provide your covenant. Covenant of the best ways to deliver our projects to ensure that we are committed to you.

Campaign Details

What is Zakat?

Zakat, the giving of alms to the poor and needy, is one of the five pillars of Islam (the others are declaration of faith, prayer, fasting in Ramadan and Hajj). It is obligatory upon every adult Muslim of sound mind and means.

The individual must own a specific amount of wealth or savings (after living costs, expenses etc). This is referred to as Nisaab and is the threshold at which Zakat becomes payable. The amount of Zakat to be paid is 2.5% of Nisaab .

"The alms are only for the Fuqara' (the poor), and Al-Masakin (the needy) and those employed to collect (the funds); and to attract the hearts of those who have been inclined (towards Islam); and to free the captives; and for those in debt; and for Allah's Cause, and for the wayfarer (a traveler who is cut off from everything); a duty imposed by Allah. And Allah is All-Knower, All-Wise." [Al-Quran 9:60]

"They ask you as to what they should spend. Say: Whatever wealth you spend, it is for the parents and the near of kin and the orphans and the needy and the wayfarer, and whatever good you do, Allah surely knows it." [Al-Quran 2:215]

"(Alms are) for the poor who are confined in the way of Allah-- they cannot go about in the land; the ignorant man thinks them to be rich on account of (their) abstaining (from begging); you can recognize them by their mark; they do not beg from men importunately; and whatever good thing you spend, surely Allah knows it." [Al-Quran 2:273]

Why do we give Zakat?

Zakat is not charity, It is not voluntary charity not a tax but an obligation. By giving Zakat, a Muslim is acknowledging that everything we have is Allah’s and we do not really own it, and we should use it to remember Allah and help those who are in need. It is also an act to help free us from excessive desire and greed, learn self-discipline and honesty.

When should we give Zakat?

You should record the Islamic date on which you first became the owner of Nisaab - if, on the same date the following lunar year, you are still the owner of Nisaab, you will be obliged to pay Zakat. Many Muslims choose to give it during Ramadan as the rewards for good deeds performed in Ramadan are greater than in any other month.

Who can receive Zakat?

Zakat can only be paid to specific beneficiaries and projects.

The Qur’an mentions eight groups of people on who Zakat should be spent:

(Surat At-Tawbah 9:60)

The Fuqara’ (the poor)

Al-Maskin (the needy)

Aamileen (Zakat collector)

Muallafatul Quloob (poor and needy who recently converted to Islam)

Ar-Riqaab (slaves; Zakat can be used to purchase their freedom)

Ibnus-Sabeel: A stranded traveller in need of financial assistance.

Al Ghaarimeen: A debtor

Fi Sabeelillah: Those who are away from home in the path of Allah

How is Zakat calculated?

Assets to include in your Zakat calculation are cash (in hand, in bank accounts or money lent to someone), shares, pensions, gold and silver. Personal items (your home, furniture, cars, food, clothing) are not included in Nisaab.

There are two measures to determine Nisaab - gold or silver.

Gold: The Nisaab by the gold standard is 3 ounces of gold (87.48 grams) or its cash equivalent. The price will vary with the current market value of gold.

Silver: The Nisaab by the silver standard is 21 ounces of silver (612.36 grams) or its equivalent in cash.

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