“My mercy encompasses all things, and so I shall decree it for those who are reverent, give the Zakat and those who believe in Our revelations." [7:156]
Teebah Foundation delivers your Zakat to [add countries]. Not a single penny is deducted from your Zakat payment as we believe that Zakat is an obligatory donation upon our donors, hence we distribute your Zakat to those who need it the most. From feeding the poor to building homes, mosques and schools – your money will be used to meet the needs of our beneficiaries. Because it is your money, you have every right to decide where and how you want us to distribute it. Paying 2.5% of your wealth is obligatory upon all Muslims whose possessions (cash, gold, silver, shares all combined) reach a certain level known as Nisab. If your wealth reaches the Nisab then you need to perform the act of wealth purification i.e giving Zakat which is the third pillar of Islam. You can use our Zakat Calculator for a quick and accurate calculation.
What is Zakat?
Zakat is an obligatory charity, classified as the third pillar of Islam. Zakat is an Arabic word derived from the word ‘tazkiyya which means purification. The act of performing Zakat is considered to purify our wealth after reaching the Nisab. Zakat is the equivalent of 2.5% of one year’s total wealth.
What is it meant by wealth?
Wealth includes cash in hand, bank savings, cattle and crops that are in excess of ones need and other objects of monetary value (Jewellery and gold ). However, Items for personal use such as car, clothing and house are excluded from Zakat.
Who has to pay Zakat?
Zakat is obligatory upon mature male and female Muslims who are the absolute owners of their wealth and in complete control over their possessions
When do I have to pay Zakat?
Zakat becomes obligatory when your wealth reaches or exceeds the threshold (nisab) figure. The Zakat year begins on the date on which your wealth reached the nisab. Say for example, on the month of Ramadan your wealth reached the nisab which means you will have to give zakat that month every year. This will be your zakat date, whenever it comes around you will have to calculate Zakat, regardless of any changes occurred in the amount of wealth in your possession.
What is Nisab?
n order to find out how much is the current nisab is, Muslims use gold or silver
Gold: The nisab by the gold standard is 3 ounces of gold (87.48 gram-s) or its cash equivalent.
Silver: The nisab by the silver standard is 21 ounces of silver (612.36 grams) or its equivalent in cash.
To whom should I give zakat?
The recipient must be: Poor/destitute people, new Muslims facing hardship, Muslims who cannot pay debt, travellers who need money to return home, people working in the path of Allah. They must not belong to your immediate family. And should not be descendant of the Prophet (pbuh).
I give charity regularly, do I still need to pay zakat ?
Yes. There must be a clear intention for a donation to be qualified as zakat. Intention is very important in the zakat process, like any obligation in Islam, zakat requires intention.