Eligibility
Every sound-minded Muslim must pay Zakat. What is wealth? Zakah is payable on your net income held in accounts as savings. Zakah is not payable for instance on food, clothes, etc.
Zakat Yearly GiveBack
Zakat is one of the pillars of Islam that has been divinely ordained and is regarded as the right of both Allah and the poor, orphans, widows, and the elderly
How much should I pay?
A 2.5% Zakah is due when your net income is in your account for a year. You can work out how much you have to pay by applying 2.5% to your savings. Each individual needs to have held a minimum amount of wealth (“nisab”) for a whole year.
Qur’an verses on Zakat:
“My Mercy extends to all things. That (Mercy) I shall ordain for those who have God-consciousness and give their Zakat and those who believe in Our Signs.” (Surah Al-A`raf 7:156).