Zakah

Zakah is not just charity; it is a pillar of belief.
Your Zakah can help families facing famine!

At Sadaqahcoin, we know your Zakah is not just charity, it is a deed rooted in your religious faith that must be treated with great care. Allow us to help you fulfil your religious obligation to support the most vulnerable around the world, giving them relief from the burden of poverty.

In order for Zakah to be due on your wealth, two conditions must be met:

1 – That your wealth reaches a minimum threshold called the ‘nisab’.

2 – That a whole year has passed since it has done so.

If the money is less than the Nisab, then no Zakah is due on it.

If one lunar (hijri) year has passed since your wealth had reached the Nisabi, then Zakah becomes due at that point.

The Nisab is the equivalent of 85 grams of gold or 595 grams of silver.

The rate that must be paid for Zakah is 2.5% of your zakah-eligable wealth.
(Source: https://islamqa.info/en/answers/93414/zakaah-on-wealth-earned-during-the-year)

Sadaqahcoin collects and distributes Zakah to those who are most in need in accordance with Islamic guidelines. According to the Holy Quran (9:60), there are eight categories of people who qualify to recieve Zakah:

– The poor
– The needy
– The collectors of Zakah
– Those whose hearts are to be won over
– Captives
– Those burdened with debt
– Those in the cause of Allah
– Travelers

Most scholars agree that the poor and needy are the most important categories of people to receive zakat. Given that, it is acceptable to give your entire zakat allotment to individuals of those groups.

While many prefer to give Zakat al-Mal during Ramadan, the option to give is always open. However, when it comes to Zakat al-Fitr, it should be given before Eid prayer.