ZAKAT - Alms.
Every Muslim is required to donate 2.5% of his/her income to the needy. Zakat is obligatory on every earning Muslim. The Qur'an says - "Verily those who give Zakat, men and women, and lend to Allah a goodly loan, it shall be increased to their manifold and theirs shall be an honorable good reward (Paradise)" - Qu'ran 57:18 Zakat helps in reducing economic disparity, inviting more people into the market. Zakat promotes simplicity and transparency, linking savings and investments and avoiding economic bubbles and bursts.
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Every Muslim is required to donate 2.5% of his/her income to the needy. Zakat is obligatory on every earning Muslim. The Qur'an says - "Verily those who give Zakat, men and women, and lend to Allah a goodly loan, it shall be increased to their manifold and theirs shall be an honorable good reward (Paradise)" - Qu'ran 57:18 Zakat helps in reducing economic disparity, inviting more people into the market. Zakat promotes simplicity and transparency, linking savings and investments and avoiding economic bubbles and bursts.