CHARITY OR ZAKAT:
Charity or Zakat is the fourth pillar of Islam, an obligation to all adult & able bodied Muslims who meet the necessary criteria of wealth to donate a certain proportion of his/her wealth each year to charitable causes. Zakat becomes due on savings which have been kept for one full year.
Two and half percent (2.5%) of wealth and assets each year is given to the poor & needy. This is done before the beginning of the month of Muharram (the first month) of Islamic new year.
Zakat is an act of worship and a way of showing sympathy to those who are less fortunate. It is meant to take away from our hearts, greed and the love of money and to bridge the gap between the rich and the poor.
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