Islamic lectures, Zakat Al Maal

ZAKAT AL MAAL

What is Zakat al Maal?

It is a mandatory annual charity aimed at fundamental pillar of Islam. It is an obligatory charity intended to purify the income of believers. Zakat Al Maal is paid by every reasonable and mature Muslim. Established by Allah, it requires that every Muslim whose wealth exceeds a certain threshold, called “nissab”, each year pays a portion of his assets to the needy.

The calculation of Zakah al Maal is based on an amount equivalent to 2.5% of savings or assets held over a full lunar year.

Muslims can fulfill this obligation by identifying people in need within their local community. They can also contact an organization that redistributes it in the form of concrete actions in the field, such as KAMALU GENERAL SERVICES LIMITED.

Zakat al-Maal

Why entrust it?

Trusting LIFE means ensuring that your donation will be used in the best way for people in need.

Our NGO constantly strives to optimize the impact of each contribution, guaranteeing transparency and efficiency in all our actions. Thanks to your Zakat Al Maal, we have thus been able to develop numerous human (Senegal, Niger, Mali)

All our operations aim to combat the consequences of multiple crises: wars, droughts or floods amplified by climate change, and socio-economic problems that worsen poverty. We are implementing sustainable actions that contribute to the empowerment of the people helped, but also urgently.

For those who need it, in France and abroad, your Zakat Al Maal makes a difference. If LIFE is able to act, it is thanks to you. Your generosity makes it possible to plan and develop long-term projects and to respond quickly to humanitarian crises.

Who are the beneficiaries of your Zakah al Maal?

In France and in our many countries, such as Bangladesh, Palestine, Palestine, Niger or Mali, LIFE provides support to millions of people. Whether they are precarious or marginalized, they are among those who can benefit from your Zakah al Maal.

Your donation will help orphans, widows, isolated women, the elderly, the homeless, as well as poor families. Displaced persons and refugees fleeing armed conflicts or natural disasters are also affected.

Your Zakat Al Maal will allow LIFE to quickly and sustainably improve the daily lives of these vulnerable people.

Social Development:

• In Uganda, unemployment mainly affects women, often without education due to precariousness. To support them, KAMALU has launched a sewing training project in villages, aimed at improving the living conditions and empowering 20 vulnerable and disadvantaged women per village. At the end of the training, they will obtain a professional aptitude certificate, opening up new perspectives for them. Thanks to you, these women can achieve economic independence through self-employment.

Education:

• Purchases of school supplies (books, clothing, etc.), school equipment, school support, programs of psychological support... Literacy, information, digital inclusion and qualifying courses.

En palestine, in Nablus, we launched a one-year project to improve access to education. 620 women, young people and children benefit directly, reaching 3,100 people in total. On the program: → Literacy courses for women and out-of-school youth. → Educational courses for early school children and young people. → Training of supervisors in education and psychological support. → Psychological and educational activities for children.

Environmental projects aimed at the empowerment of populations:

• Tree planting, sustainable agriculture, agroforestry, etc. We are implementing numerous Green Initiatives that promote sustainable livelihoods for communities in need while maintaining the environment.

Development of access to drinking water, hygiene and sanitation:

• Construction of wells, fountains, water towers, boreholes, Achievement of latrines.

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Who should pay Zakah al Maal?

Zakah al Maal, an obligatory charity, must be paid by any adult Muslim who owns property that exceeds the Nissab threshold for a full lunar year.

How do I calculate my Zakah al Maal?

We suggest that you know the amount of your Zakat al Maal using our calculator. If you want to do it yourself, it is important to follow several specific steps.

1. Determine the Nissab.

2. Calculate your total wealth. Add up all your monetary and non-monetary possessions that are subject to Zakah al Maal. This includes cash and bank balances, the value of shares, investments and bonds, but also gold, silver and jewelry (see the section on goods exempt from Zakah), real estate rental income, goodwill or commercial inventory.

3. Deduct immediate debts and expenses.Deduct from your total wealth, immediate or short-term debts, and necessary current expenses (such as rent, bills, etc.).

4. Calculate the amount of Zakah al MaalOnce you have determined your net wealth (total wealth minus debts and expenses), calculate 2.5% of this value. This percentage is the amount of Zakah al Maal that you have to pay.

When do I have to pay my Zakah al Maal?

When your wealth exceeds the Nissab threshold and a lunar year has passed, it is important to pay Zakah al Maal, a fundamental obligation in Islam. If you have not yet paid it after this time, it is essential to do so without delay. Many worshipers prefer to pay their Zakah al Maal during the month of Ramadan, especially during the last ten nights.

Why? Charitable acts during this period, especially during the Night of Destiny (Laylat al-Qadr), are extremely meritorious. In addition, donations therefore make it possible to help the most disadvantaged to celebrate with dignity. Eid al-Fitr. Anas Ibn Malek reports that Prophet Muhammad (sws) was asked about the best charity, and he answered: “The best charity is the one given during Ramadan.” What are the goods for which Zakah al Maal is not applicable?

Here is a list of goods that are exempt from paying Zakah al Maal:

· The main residence, for example, your personal home;
· The vehicle used for personal purposes;
· Debts that you owe, those that you are not sure about repaying;
· Most schools say that it is not mandatory to pay Zakah al Maal on gold, silver and other jewelry that is worn daily. But some scholars think the opposite. It is therefore advisable to take them into account when paying your alms, in order to consider differences of opinion and to contribute more to the needs of the poor;
· Furniture and household goods intended for personal use, not for commercial purposes.

What is Nissab?

Nissab is the minimum wealth threshold that a Muslim must possess before Zakah al Maal becomes mandatory. It is generally equivalent to 85 grams of gold or 595 grams of silver. Its amount is based on the price per gram of gold or silver, which fluctuates every day and therefore changes every year. Therefore, you need to check the current price of gold or silver to calculate the value of Nissab.

What is the amount of Nissab in 2024?

In 2024, the amount of Nissâb is fixed at €4,754, corresponding to 85 grams of gold. Although most schools use the gold price to evaluate it, some schools prefer the silver price. Thus, for Zakat Al Maal 2024, the Nissâb based on 595 grams of silver, is 410.55€.

What to do if the Nissab fluctuates during the year?

Sometimes the wealth of a person subject to Zakah al Maal falls under the Nissab threshold during the year. In these situations, it is recommended to calculate the value of taxable property at the beginning and end of the lunar year. If these values exceed Nissab, you must pay Zakah al Maal.

What should I do if I forgot to pay my Zakah al Maal?

It is imperative that you calculate and pay the amount due for each missed year. These payments remain mandatory regardless of the number of years that have passed.

What is the difference between Zakah al Maal and Zakat al Fitr?

Zakah al Maal is an alms on accumulated wealth, due by adult Muslims who have assets that exceed the Nissab threshold (85 grams of gold) for a year.

It represents 2.5% of assets. Zakat al Fitr, on the other hand, is a mandatory charity for all Muslims at the end of Ramadan. It is meant to purify the fast and each member of the family should give it before the Eid al-Fitr prayer. Its amount corresponds to approximately 2.5 kg of basic foodstuffs or their monetary value.