Zakat

From Islamic Finance WIKI
Revision as of 10:56, 6 March 2010 by Mg (talk)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

Zakat or Zakah, is the obligatory charity of Muslims and the third pillar of Islam after the Testimony and the Prayer. Basically, those who have wealth above a certain limit, shall pay 2.5 % of it. For agriculture the harvest gets taxed with 10 % instead of the land.

References