ZAKAT

MPF aims to make the process of calculating zakat as simple as possible. We have broken down the calculation process into zakatable assets (gold, silver, cash, savings, business assets etc.) and deductible liabilities (money you owe, other outgoings due) so you can calculate the zakat you owe easily.

The amount of zakat you need to pay will be determined once you have calculated the value of your net assets. You then need to see whether your net assets are equal to, or exceed, the Nisab threshold.

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Who is eligible for zakat?

100% Zakat: Benefiting those who need it most

When you give your Zakat with us, 100% of it goes to the less fortunate. Every single penny is spent on those in need, giving you 100% of the rewards.

Traditional Zakat: Cash Sponsorships

Traditionally, the Prophet (ﷺ) and His followers would give their Zakat directly to those in need and now, with MPF, you can follow in their footsteps with our innovative cash sponsorships.

What is Zakat?

Zakat is the third pillar of Islam and is a compulsory charitable payment for all eligible adult Muslims that meet the nisab threshold.

The nisab is the minimum amount of total wealth that Muslims must own before Zakat becomes mandatory. The Prophet (ﷺ) set the nisab threshold to be equivalent to 87.48 grams of gold and 612.36 grams of silve

Zakat 2.5%

Zakat in Islam is a payment of 2.5% of our total savings and wealth. Zakat donations benefit the impoverished and disadvantaged. Paying your Zakat can help hundreds of people, and gain you Sadaqah Jariyah for years to come.

When we think on the blessed payment of Zakat, we are reminded of the following Hadith:

“Charity never decreases wealth.” – [Muslim]

Calculating your Zakat

Our simple to use calculator will help take the stress out of working out your Zakat amount. As long as you have details of all the assets you own to hand, you can quickly find out how much you need to give.

Put simply, there are 4 simple steps to working out your Zakat:

Work out what you own
Then take off what you owe
Work out the balance and check that it’s more than the Nisab value
Work out 2.5% of that and there you go, you’ve got your Zakat amount

Many people get confused about which assets they need to include in the calculation and which debts can be taken off. Our Knowledge Bank contains lots of information to help clear up the most common questions or you can let our Calculator app do the hard work for you. If you have any other questions about calculating your Zakat or need extra support, get in touch to find out how else NZF can help.