1. What is Zakat?

Zakat is one of the Five Pillars of Islam, an obligatory act of charity for Muslims who meet the necessary criteria of wealth. It purifies wealth and helps those in need.

2. How is Zakat Calculated?

The calculator uses the standard Zakat formula:

Where:

• Wealth — Your total savings, investments, gold, silver, and cash equivalents
• Nisab — The minimum threshold of wealth that makes Zakat obligatory
• 2.5% — The fixed Zakat rate on wealth above the Nisab

3. Nisab in South Africa

Details: The Nisab value is based on the current price of 612.36 grams of silver. In South Africa, this is approximately ZAR 5,640 (as of 2023), but should be verified annually as silver prices fluctuate.

4. Using the Calculator

Tips: Enter your total wealth in ZAR and the current Nisab value. The calculator will determine if you're eligible to pay Zakat and calculate the amount due.

5. Frequently Asked Questions (FAQ)

Q1: What wealth is included in Zakat calculation?
A: Cash, savings, investments, business inventory, gold, silver, and other liquid assets. Personal items like home, car, and furniture are excluded.

Q2: When is Zakat due?
A: After one lunar year (Hawl) of owning wealth above the Nisab threshold, payable annually thereafter.

Q3: Can I pay Zakat in installments?
A: Yes, Zakat can be paid in installments throughout the year as long as the full amount is paid by the due date.

Q4: Who is eligible to receive Zakat?
A: The Quran specifies eight categories including the poor, needy, those in debt, travelers, and those working to distribute Zakat.

Q5: How often should I check the Nisab value?
A: At least annually, as it's based on current silver prices. Many Islamic organizations publish updated Nisab values.