Now is a good time to pay Zakaath

Most of us are simply unaware of Zakaath and few (resortworkers?) with savings actually manage to pay Zakath. The problem is lack of awareness on the issue compounded by the fact that those who try to exhort and explain people to pay Zakaath frequently use Arabic technical terms which confounds the average person. So here is Zakaath made easy.

  • Zakaath is obligatory on any Muslim with about 3700rf (current situation in Maldives) and above in bank as savings after one year and (if one has not yet paid up) its now is a good time to settle the debt with god because this is yet the beginning of new year both.
  • If the bank adds interest to the savings account, make sure to deduct that amount from the total and then divide the savings by 40. That’s  the amount to pay to Zakaath.
  • Remember also that Zakaath is applicable on savings, not earnings
  • If bank interest was added to the savings, draw out that interest amount and write a cheque for a charity. A good place would be Thalassemia Fund.
  • Ministry of Islamic Affairs in Islamic Center is the easiest place to find in Male and they are open to collect Zakaath every working day from 8 to 3 in the afternoon. A crossed check in favor of Islamic Ministry is the easiest and most hassle-free way of paying Zakaath.
  • If however you do not wish to pay Zakaath then make sure you do not have savings above 3700rf saved in bank or at hand or anywhere.

Lots of Salaams.

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