Ethica Releases Zakat Questions and Answers Handbook
Dubai, United Arab Emirates (PRWEB) July 31, 2013 -- Ethica Institute of Islamic Finance, the Dubai-based Islamic finance certification institute, has released a free zakat handbook covering the basics on how individuals and institutions can pay zakat. Zakat is the Islamic annual payment to the poor from one’s zakat eligible property.
During Ramadan, the Islamic month of fasting, millions of Muslims around the world pay zakat as a means of purifying their wealth. But for zakat to be paid, it must be paid correctly. Meaning, the details of how to pay, to whom to pay, and which assets to pay on are all central issues to calculating zakat properly. Ethica’s zakat handbook is designed to address these questions with over 100 answers to commonly asked questions.
Ethica’s spokesperson said, “If zakat were paid properly, poverty could become a thing of the past for Muslims. But for this to happen, it first has to be calculated correctly. Many Muslims may be underpaying or improperly allocating funds because they are simply unaware of how zakat gets done.”
In addition to the free zakat handbook, Ethica has also put together a seminar, "How To Calculate Zakat," available for free download. As one Islamic finance practitioner put it, “The day will come when zakat treasuries will be overflowing because there are no more poor people to give zakat to.”
Sameer Hasan, Ethica Institute of Islamic Finance, http://www.ethicainstitute.com/, +9714 455 8690, [email protected]
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