Purify your wealth while giving hope to those in need
Perform your religious obligation of donating 2.50% of your wealth through Zakat al-Maal or Almsgiving.
Purify your wealth while giving hope to those in need
Perform your religious obligation of donating 2.50% of your wealth through Zakat al-Maal or Almsgiving.
Purify your wealth while giving hope to those in need
Perform your religious obligation of donating 2.50% of your wealth through Zakat al-Maal or Almsgiving.
What is Zakat?
Zakat is the amount of money that every adult, mentally stable, free, and financially able Muslim, male and female, has to pay to support specific categories of people. To learn more, scroll down to Zakat 101 below.
What is Zakat?
Zakat is the amount of money that every adult, mentally stable, free, and financially able Muslim, male and female, has to pay to support specific categories of people. To learn more, scroll down to Zakat 101 below.
What is Zakat?
Zakat is the amount of money that every adult, mentally stable, free, and financially able Muslim, male and female, has to pay to support specific categories of people. To learn more, scroll down to Zakat 101 below.
Mufti Faraz Adam
Mufti Faraz Adam is a globally recognized expert in Islamic Finance, Islamic Social Finance & Islamic FinTech. He is advising several global Islamic financial institutions spread across the UK, US, Canada, Malaysia, Singapore, UAE and other countries. He recently authored a book on Islamic Fintech called ‘Introduction to Islamic Fintech’, and has written several research papers on Islamic Finance and complex products.
Mufti Faraz Adam
Mufti Faraz Adam is a globally recognized expert in Islamic Finance, Islamic Social Finance & Islamic FinTech. He is advising several global Islamic financial institutions spread across the UK, US, Canada, Malaysia, Singapore, UAE and other countries. He recently authored a book on Islamic Fintech called ‘Introduction to Islamic Fintech’, and has written several research papers on Islamic Finance and complex products.
Mufti Faraz Adam
Mufti Faraz Adam is a globally recognized expert in Islamic Finance, Islamic Social Finance & Islamic FinTech. He is advising several global Islamic financial institutions spread across the UK, US, Canada, Malaysia, Singapore, UAE and other countries. He recently authored a book on Islamic Fintech called ‘Introduction to Islamic Fintech’, and has written several research papers on Islamic Finance and complex products.
The basics of Zakat. When, how, and who is eligible for zakat al-maal.
01
Passage of One Lunar Year
Zakat is obligatory after a time span of one lunar year passes from when a person initially owns wealth that equals the Nisab (threshold).
Then, the owner needs to pay 2.5% (or 1/40) on the money in their possession at the end of the lunar year.
A lunar year is approximately 355 days.
02
Deduction of Debts
The owner should deduct any amount of money he or she borrowed from others; then check if the rest reaches the necessary Nisab then pay Zakat for it.
If the owner had enough money to satisfy the Nisab at the beginning of the year, then the money increased (in profits, salaries, inheritance, grants, etc.), the owner needs to add the increase to the Nisab amount that they owned at the beginning of the year as long as they are still in ownership of it at the end of the year.
Then, the owner pays Zakat (2.5%) of the total at the end of the lunar year.
There are small differences in the Fiqh schools here - it is best to work out the details with your Local Mufti or Imam.
03
Individual Responsibility
Each Muslim calculates his or her own Zakat individually.
For most purposes this involves the payment each year of two and a half percent of one’s capital.
A pious person may also give as much as he or she pleases as Sadaqa, and does so preferably in secret.
Although this word can be translated as ‘voluntary charity’ it has a wider meaning.
The Prophet (SAW) said, ‘Even meeting your brother with a cheerful face is charity.’
01
The basics of Zakat
When, how, and who is eligible for zakat al-maal.
Passage of One Lunar Year
Zakat is obligatory after a time span of one lunar year passes from when a person initially owns wealth that equals the Nisab (threshold).
Then, the owner needs to pay 2.5% (or 1/40) on the money in their possession at the end of the lunar year.
A lunar year is approximately 355 days.
02
Deduction of Debts
The owner should deduct any amount of money he or she borrowed from others; then check if the rest reaches the necessary Nisab then pay Zakat for it.
If the owner had enough money to satisfy the Nisab at the beginning of the year, then the money increased (in profits, salaries, inheritance, grants, etc.), the owner needs to add the increase to the Nisab amount that they owned at the beginning of the year as long as they are still in ownership of it at the end of the year.
Then, the owner pays Zakat (2.5%) of the total at the end of the lunar year.
There are small differences in the Fiqh schools here - it is best to work out the details with your Local Mufti or Imam.
03
Individual Responsibility
Each Muslim calculates his or her own Zakat individually.
For most purposes this involves the payment each year of two and a half percent of one’s capital.
A pious person may also give as much as he or she pleases as Sadaqa, and does so preferably in secret.
Although this word can be translated as ‘voluntary charity’ it has a wider meaning.
The Prophet (SAW) said, ‘Even meeting your brother with a cheerful face is charity.’
01
The basics of Zakat
When, how, and who is eligible for zakat al-maal.
Passage of One Lunar Year
Zakat is obligatory after a time span of one lunar year passes from when a person initially owns wealth that equals the Nisab (threshold).
Then, the owner needs to pay 2.5% (or 1/40) on the money in their possession at the end of the lunar year.
A lunar year is approximately 355 days.
02
Deduction of Debts
The owner should deduct any amount of money he or she borrowed from others; then check if the rest reaches the necessary Nisab then pay Zakat for it.
If the owner had enough money to satisfy the Nisab at the beginning of the year, then the money increased (in profits, salaries, inheritance, grants, etc.), the owner needs to add the increase to the Nisab amount that they owned at the beginning of the year as long as they are still in ownership of it at the end of the year.
Then, the owner pays Zakat (2.5%) of the total at the end of the lunar year.
There are small differences in the Fiqh schools here - it is best to work out the details with your Local Mufti or Imam.
03
Individual Responsibility
Each Muslim calculates his or her own Zakat individually.
For most purposes this involves the payment each year of two and a half percent of one’s capital.
A pious person may also give as much as he or she pleases as Sadaqa, and does so preferably in secret.
Although this word can be translated as ‘voluntary charity’ it has a wider meaning.
The Prophet (SAW) said, ‘Even meeting your brother with a cheerful face is charity.’
The common categories
of people eligible for
Zakat in Canada
The common categories
of people eligible for
Zakat in Canada
1.
Fakir: One who has neither material possessions nor means of livelihood.
2.
Gharmin: One who is in debt (money borrowed to meet basic, Halal expenditure).
3.
Miskin: One with insufficient means of livelihood to meet basic needs.
4.
Ibn Sabil: One who is stranded.
Zakat Calculator
Assets
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Gold
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Debts Owed
Stocks Long
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RRSP
RESP
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Liabilities and Deductions
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Results
Estimated Zakat Due
$0
Total Assets
$0
Total Liabilities
$0
Zakatable Assets
$0
View Legal Disclaimer
The above calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and for informational purposes and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. This calculation assumes a constant financing/profit rate throughout the term period and that the financing/profit rate is compounded annually, not in advance. The mortgage payment amount may vary according to certain variables entered into the calculator and may not provide the precise dollar amount of your mortgage payment. The results will give you a general idea of the basic mortgage amount and mortgage payment amount based upon the information you have entered. Manzil does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Manzil uses reasonable efforts to include accurate and up-to-date information in this calculator, but cannot guarantee that all information is accurate, complete or current at all times. Please speak with your mortgage broker to assist you with determining what you can afford.
Zakat Calculator
Assets
Cash
Gold
Silver
Debts Owed
Stocks Long
Stocks Short
RRSP
RESP
Crypto
Properties
Business Assets
Liabilities and Deductions
Personal Liabilities
Business Liabilities
View Legal Disclaimer
The above calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and for informational purposes and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. This calculation assumes a constant financing/profit rate throughout the term period and that the financing/profit rate is compounded annually, not in advance. The mortgage payment amount may vary according to certain variables entered into the calculator and may not provide the precise dollar amount of your mortgage payment. The results will give you a general idea of the basic mortgage amount and mortgage payment amount based upon the information you have entered. Manzil does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Manzil uses reasonable efforts to include accurate and up-to-date information in this calculator, but cannot guarantee that all information is accurate, complete or current at all times. Please speak with your mortgage broker to assist you with determining what you can afford.
Give your Zakat today!
Explore giving your Zakat with one of our partners today. Click on the partner to learn more and give your Zakat.
SAKEENAH, Canada
Sakeenah deliver life-changing assistance to women and families across Canada:
Safe transitional homes
The People’s Market
Child & youth programs
Trusted, Zakat-eligible charity
UNHCR
The Manzil Foundation, in partnership with UNHCR, provides housing, education, and economic opportunities for refugees through Waqf endowments and halal microfinance.
The Zakat Fund is fully Sharia-compliant
100% of donations going to displaced persons — 60% of whom are from OIC countries and qualify under 4 of the 8 Zakat categories.
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In 20 minutes or less, create Islamic Will documents online and have legally-secure, Shariah Compliant documents in preparation for when you die.
Discover other Manzil Products
Discover
Homes
See the features and benefits of our Halal Musharaka financing options and determine which one is best for you.
Invest
Halal investing opportunities that align with your beliefs as a Muslim, in partnership with OneVest. Transfer existing investments or open a new account.
Wills
In 20 minutes or less, create Islamic Will documents online and have legally-secure, Shariah Compliant documents in preparation for when you die.
Discover other Manzil Products
Discover
Discover other Manzil Products
Discover
Homes
See the features and benefits of our Halal Musharaka financing options and determine which one is best for you.
Invest
Halal investing opportunities that align with your beliefs as a Muslim, in partnership with OneVest. Transfer existing investments or open a new account.
Wills
In 20 minutes or less, create Islamic Will documents online and have legally-secure, Shariah Compliant documents in preparation for when you die.
Services
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