The Almighty by giving back 1/40th or 2.5 per cent of what The Lord has granted his faithful servants. Islam urged its followers to pay Zakat as soon as they could afford it; however, if any matter appears that will affect their Faith and belief, then the payment should be postponed until this difficulty is over.
Muslims are commanded to give Zakat on five items: gold, silver, pearls or jewels; trade goods; camels; cattle and sheep; and agricultural products like wheat, rice, dates (or other types of fruits), etc…
The Prophet peace be upon him) said: “Islam is built on five pillars: testifying that there is no god but Allah and Muhammad is the messenger of Allah; performing prayers; paying Zakat; making a pilgrimage to The House (the Kaaba in Makkah) for those who are able financially, physically or by any other means.”
It was narrated from Abu Hurairah may Allah be pleased with him) that the Prophet peace is upon him said: “Whoever recites one letter of Quran, he will be credited with a good deed, tenfold to seven hundred times, or many more times. Indeed, whoever reads one word of Quran, this will be recorded as an act of charity given to me in return for it.”
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Ibn ‘Umar reported that the Prophet peace is upon him) said: “If a man says, ‘In the name of Allah,’ and then goes away from this place (Al-Masjid Al-Haram), walking or riding, then if he does another good deed after that, it will rise for him as a reward until he returns to this place.” He was asked what the first thing was. He replied: “Reciting one word of the Quran.”
“When a man passes by people who are sitting in circles of conversation and inquires about them, they say: ‘They are here taking care of their wealth.’ When he inquires about those who had been continuously engaged in some work for three days, they say: ‘These have been busy fasting.'”
The Prophet peace be upon him) said: “Whoever wishes to have his provision increased, let him increase the amount of his periodical Zakat donations! Whoever does so will certainly receive an increase for this.”
Muslim reported that Abu Hurairah may Allah is pleased with him) said that the Messenger of Allah peace is upon him) mentioned an older man taking care of small children, and he prayed all night. He was asked about his particular work at night, and he said: “I am afraid that I may die during my sleep, which would cause these children to perish because they are still very young.” So he began praying all night. One day before dawn (when Muadhah’s shift started), he dies. When Muadhah comes to the Prophet in the morning, she tells him about that older man she saw in her dream. The Prophet said: “He will have a double reward.”
Muammar bin Khalid reported that he asked Anas bin Malik about his father’s wealth and how much Zakat he paid for it. He said: “His wealth at that time was one hundred camels; He used to give one camel (or part of a camel) as Zakat every year, and this amount of Zakat used not to cause anyone of them (camels) any harm (by way of deprivation).”
Anas reported: “My father took me to The Messenger of Allah peace be upon him). He patted my cheek and invoked for Allah’s blessing. He said: ‘O Allah! Forgive ‘Ubaidah (my father).’ I looked at him, thinking he would give me something in charity. After a while, he called me again, patted my other check, and invoked for Allah’s blessing upon me, saying: ‘O Allah! Forgive ‘Ubaidah.’ I again thought he would give me something in charity. He then called me for the third time till I wished that my self be sacrificed for him; only then did he give me one hundred and twenty-two dirhams.” [This was] from Sad bin Muadh’s money given to him as Zakat the year when Sad became Muslim.
As Abu ‘Aamirah reported, ‘ I heard Ibn Abbas (may Allah be pleased with him) saying that whoever lends money to a Muslim in need is considered Zakat for that particular individual. Similarly, if someone entrusts his money to another person for investment, it is considered Zakat for that person as well.