Did You Know?

• Post by: wp-islamicfinancereviewcouk
• August 19, 2025
• No Comment

Zakat, one of the five pillars of Islam, is more than just charity — it’s a built-in wealth distribution system designed to promote economic justice and social equity.

🟢 What Is Zakat?

Zakat is a mandatory annual payment of 2.5% on excess wealth, required from eligible Muslims. It supports the poor, vulnerable, and causes of public welfare. The word Zakat literally means “purification” — cleansing one’s wealth and heart by sharing what is due.

If applied globally, Zakat could raise over $300 billion each year — more than enough to significantly reduce global poverty and inequality.

📖 Qur’anic Foundation

“خُذْ مِنْ أَمْوَٰلِهِمْ صَدَقَةً تُطَهِّرُهُمْ وَتُزَكِّيهِم بِهَا…”
“Take from their wealth a charity by which you purify them and cause them increase…”
— Surah At-Tawbah (9:103)

⚠️ A Wake-Up Call for Global Justice

As the world struggles to meet the United Nations Sustainable Development Goals, particularly:

• SDG 1: No Poverty

• SDG 10: Reduced Inequalities

Zakat offers a faith-driven, scalable, and time-tested model for sustainable development — one that predates modern welfare systems by over 1,400 years.

🌍 The Islamic Finance Connection

Zakat is part of a broader Islamic financial ecosystem that prohibits interest (riba), encourages ethical investment, and supports inclusive growth — aligning closely with global calls for responsible capitalism, financial inclusion, and wealth equity.

🔗 Learn More

Explore how Islamic finance contributes to real-world change at
👉 www.islamicfinancereview.co.uk