As one of the pillars of the faith, it requires all Muslims to donate a portion of their wealth to charity. Muslims must meet a certain threshold before they can qualify for zakat. The amount is 2.5% of an individual’s total savings and wealth. Zakat can be paid at any time during the lunar year.
The technical definition of Zakat is a charitable donation made by Muslims, calculated as 2.5% of their surplus wealth. In simple terms, Zakat is calculated as 2.5% percent of your savings and financial assets that are not used towards your living expenses.
The recipient must be poor and/or needy. A poor person is someone whose property, in excess of his basic requirements, does not reach the nisab threshold.
Account Name: Sunninghill Islamic Jamaat
Bank: Standard Bank
Branch Code: 001 255
Account Number: 303 040 920
