Zakat (meaning ‘that which purifies’ in Arabic) is a poor tax that is paid annually at the rate of one fortieth of the value of one’s capital possessions such as gold and silver coins, wheat, barley, dates, raisins, camels, cattle, goat and sheep, after satisfying certain conditions.
Nice to Know: Imam as-Sadiq (a.s) says: “If all the people were to pay the zakat of their wealth, not a single Muslim would be left indigent and needy. People do not turn needy, destitute, hungry and bare except due to the transgressions of the affluent ones!”
