“Zaka’ah” Zakat ( zaka’ah) is an Arabic word, and as such it means purification. The definition encompasses the process and methods of purification’. In our daily lives this is both personal and collective the purification of our wealth by sharing a small amount of it to the less fortunate vulnerable and needy segments of society. If you are getting trouble to find Islamic UK Charity You can visit Kort.org.uk for donations.
Importance in Zakat
Zakat is the well-balanced and beautiful economic system that was ordained by God to eliminate poverty, distribute wealth, and limiting our desire for wealth. Zakat aids in the distribution of wealth from the economy, which helps feed the hungry and strengthens social relations, instilling human values of compassion and sharing, thus forming an inclusive and harmonious’society which is the core.
Islam offers a wider area of coverage than the traditional definition of religion. It covers and provides clearly defined policies, procedures that, guidelines and procedures for all aspects of our lives. It is the Holy Quran, is not simply a source of the sacred code of religion and worship (theology) It is also it is a comprehensive guide to living a good living. It is a guide for the human race and provides a framework of moral values that apply to all aspects of personal as well as public lives. The Quran includes directions and narratives about Theology, History, Astronomy Economics, Sociology Governance, Sciences and Law, Medicine and more. It covers the entire way of life from cradle to death.
In this article I’ve examined the socio-economic effects of Zakat that is part of five essential foundations of Islam. It can help us comprehend how the system of economics lets distribution and flow of wealth across different segments of society. Zakat is a very practical, scientifically derived system, and the best part is that it doesn’t put any burden on the taxpayer, in contrast to the tax system that is prevalent in our day. It isn’t a tax-like system or a share system that only entitles those who are wealthy, to pay an insignificant amount of their wealth (about 2.5 percent) in the family or neighbors and those in the community that are less fortunate.
What is the reason for this tax burden?
Zakat isn’t burdensome for anyone, as it is base is not on income instead of accumulated, inactive wealth! This is the true science upon which Zakat is founded. This tiny amount helps in to transfer funds from the wealthy to the needy in the household and the society. It contributes to the ongoing stimulation of well-being in society and assists each of us develop our humanistic side, through being aware of the hardships and difficulties of society. It also aids in the elimination of the concentration of wealth which is the main issue that the corporate, capitalist world faces currently. It helps reduce our greed and teaches us the practice of giving back from the wealth we have, making us more connected to fellow human beings and allowing us to empathize with the homeless and the poor as well as the less fortunate. Giving can also contribute to the fundamental satisfaction of our spirit allows us to live more fulfilled, happy and sane lives at the same time, it promotes the goodwill among our families and society and communities all over the world. The materialistic western world has cultivated the culture that is characterized by self-centeredness, greed, and an emphasis on the individuals.
Islam promotes community building rather than individual-building. It teaches us to think of “We” instead of “Me or ‘Us’. than ‘I’, and ‘Our instead of “Mine”.
In this age of ‘corporate profit’, benefits and dignity of labor cannot be justifiedly distributed. The gap between the working class and a few CEOs of corporations is vast that it causes animosity, anger and resentment. The wealthy continue to grow at a higher rate, while the rest become smaller and less prosperous with every passing day. Furthermore, capitalism and free market societies create an illusion that humans are judged by the wealth they’ve amassed, and the possessions of desire they have. The degeneration causes the sanctification and legalizing any form of Riba’ and Usury, which is the principal reason for the demise of economies all over. Islam is the reason strongly condemns Riba in all forms, which includes Banking Interest. When we look around us in the world of developed nations vast majority of people are buried in debt, and will only be able to pay off through working and laboring throughout their lives. It’s like modern-day slavery, a slave to the banking and Financial system, for the rest of their lives.