Paying The Yearly Alms (Zakah)

It is a religious duty for every Muslim who is prosperous enough to accumulate and retain a sufficient amount of savings to give a portion of his or her wealth to the needy each year. These alms are called Zakah in Arabic, which literally means “purification.” All things belong to God, The Most Merciful, and wealth is held in trust by human beings. Paying these alms is a way for people who are financially able to purify the ethically gained wealth that God has bestowed upon them. In addition, it is a means to directly distribute wealth throughout society and help the poor and needy. Zakah (alms) also purifies the soul of the giver, reduces greed, and strengthens compassion and generosity among humanity. The basic rate of these alms is two and a half percent of the wealth that has been held in savings for an entire year. These alms are levied on savings, not income.