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2.5 % ZAKAT APPLICABLE

Zakat Foundation is a non-profit organization that aims to empower disadvantaged communities by providing them with essential resources and services. One of the key areas that Zakat Foundation focuses on is Zakat, which is an Islamic practice of giving a portion of one's wealth to those in need. In particular, the Foundation helps individuals and families who are struggling to make ends meet by providing them with financial assistance through Zakat.

Zakat can be given in various forms, including cash, property, and investments. However, when it comes to Zakat on cash in hand, there are certain guidelines that must be followed. First and foremost, Zakat on cash in hand is only applicable if the amount exceeds a specific threshold known as Nisab. The Nisab is the minimum amount of wealth that a person must possess before Zakat becomes obligatory. Currently, the Nisab is set at 3 ounces of gold or its equivalent in cash.

Once the Nisab is reached, Zakat must be given at a rate of 2.5% of the total amount of cash in hand. This means that if a person has $10,000 in cash, they would be required to give $250 in Zakat. It's important to note that Zakat on cash in hand should only be given after deducting any outstanding debts or expenses.

The Zakat Foundation plays a crucial role in collecting and distributing Zakat on behalf of donors. The Foundation ensures that Zakat is distributed to those who are eligible and in need of financial assistance. Zakat is distributed in various forms, including cash, food, and medical aid.

In conclusion, Zakat Foundation is a vital organization that helps individuals and families in need by providing financial assistance through Zakat. When it comes to Zakat on cash in hand, it's important to follow the guidelines and give Zakat at the rate of 2.5% once the Nisab is reached. By doing so, we can help alleviate the financial burdens of those who are less fortunate and make a positive impact in our communities.

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Zakat Foundation is a non-profit organization that aims to alleviate poverty and suffering around the world through the distribution of Zakat, a form of Islamic charity. Zakat is one of the five pillars of Islam and is mandatory for all Muslims who meet certain criteria to donate a portion of their wealth to those in need. The Zakat Foundation provides a means for Muslims to fulfill this obligation and make a positive impact in their communities.

One of the most common forms of wealth that Muslims are required to pay Zakat on is cash. This includes any cash in hand, savings accounts, investment accounts, and any other forms of liquid assets. Cash is an important form of wealth as it can be easily and quickly transferred to those in need. The Zakat Foundation recognizes this and has specific guidelines on how to calculate and distribute Zakat on cash in hand.

To calculate Zakat on cash in hand, individuals must first determine the nisab, which is the minimum amount of wealth a person must have before Zakat is due. The nisab is equivalent to the value of 87.48 grams of gold or 612.36 grams of silver. If a person's cash in hand, after deducting any outstanding debts, is equal to or greater than the nisab, Zakat is due at a rate of 2.5%.

For example, if an individual has cash in hand worth $10,000 and has no outstanding debts, they would be required to pay $250 in Zakat (2.5% of $10,000).

Once Zakat has been calculated, it is important to distribute it to those in need. The Zakat Foundation has a network of partners and volunteers around the world who work to identify and distribute Zakat to those who are eligible. These may include the poor, orphans, widows, refugees, and others who are in need of assistance.

One of the unique aspects of the Zakat Foundation is its emphasis on transparency and accountability. Donors can be assured that their Zakat is being distributed to those who are truly in need and that the process is transparent and accountable. The Zakat Foundation provides regular updates and reports on its activities, including how Zakat funds are being used and the impact they are having on communities.

In addition to distributing Zakat, the Zakat Foundation also works to empower individuals and communities through various programs and initiatives. These may include education and vocational training programs, microfinance initiatives, and community development projects. By providing individuals with the tools and resources they need to become self-sufficient, the Zakat Foundation is helping to break the cycle of poverty and create a brighter future for all.

In conclusion, the Zakat Foundation is an important organization that plays a critical role in helping Muslims fulfill their obligation to donate Zakat and make a positive impact in their communities. By providing a means for Muslims to donate their Zakat, the Zakat Foundation is helping to alleviate poverty and suffering around the world. Whether it is through the distribution of Zakat or through its various programs and initiatives, the Zakat Foundation is making a real difference in the lives of countless individuals and communities.