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Zakat on Pensions: Determining Proxies for Different Funds

This report outlines the juristic precedence in determining proxies for the Zakatable assets held in pension funds as well as the findings and the recommendations for Muslim pension fund members in the United Kingdom for calculating their Zakat liability. A four-month project in determining reasonable proxies for the various types

Zakat and Investments

Zakat is the third of five core pillars of Islam and by Quranic ranking, is next after Prayer in importance. It has been interlinked with Prayer 28 times in the Quran.  Zakat functions and is calculated in a similar manner to a wealth tax, but it is so much more

The Impact of Zakat in ‘Flattening the Curve’

According to today’s report in The Guardian, a third of the world is in lockdown in the fight against COVID-19. The experts’ advice is self-isolation, lockdowns and complete social distancing. Hospital staff are doing a tremendous job on the frontline and deserve all the praise and support. Governments are injecting

ZakatTech & Crypto-philanthropy: Can Blockchain Make any real difference in Zakat Management?

By Mufti Faraz Adam The proponents of blockchain technology project that it could account for as much as 10% of global GDP by 2025. Whilst much of the focus for Blockchain has been on payment systems for commercial use, clearance, settlement, securities trading, the potential benefits of blockchain for social

The Role of Zakat in Building Faith Communities

Muslims in minority settings must wake up to the importance of Zakat. The payment of Zakat is one of the most repeated injunctions of the Noble Qur’an. It is conjoined in importance with the ritual prayer (Salat) almost thirty times. God has promised many things in the Qur’an to those

Why Zakat?

Why has Zakat been instructed in revelation? What does it do for us? To unearth the reality of Zakat, we must excavate deep in our tradition and sources. The following objectives, definitions, descriptions, characteristics and functions of Zakat are all found in the Qur’an, Sunnah, the commentaries of the Qur’an,