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Zakah
Offering Zakah is one of the main tenets of Islam.
Zakah
is payable on 2.5 percent of the wealth one possesses above the nisab.
Nisab, which is equal to the value of three ounces of gold, is the
minimum amount of wealth one must have before they are liable to pay
zakah. As of August 20, 2009, nisab is estimated to be $2,826.69.Zakah
is owed on gold, silver, cash, savings, investments, rent income,
business merchandise and profits, shares, securities, and bonds.Islamic Relief collects and distributes zakah to those who are most in need, in accordance with Islamic guidelines.
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