Zakat - The Divine System Of Charity and Wealth Distribution in Islam
The word Zakat (zaka'ah) is an Arabic word and by definition it stands for 'Purification'.
In a broader canvas the meaning encompasses the 'process and means of attaining purification'.
In our real lives, this relates to both individual and collective purification of our wealth, by sharing a small portion of it with the poor, needy and destitute sections of the society.
Significance of Zakat Zakat is the core of the foundation of a beautiful and balanced Economic system ordained by our Creator for eradicating poverty, redistributing wealth and controlling our greed for wealth.
It helps in the circulation of economic wealth, which in turn feeds the poor, and builds upon social relationships, instilling the humane values of caring and sharing, thereby building a harmonious, inclusive 'society' as it nucleus.
Islam has a much broader canvas than the traditional definition of 'religion'.
It encompasses and lays out clear policies, processes, procedures and guidelines for every activity in our lives.
The Holy Quran, is not just a book of religious code and worship (theology), but a complete guide to the way of life.
Its a manual for humanity and provides a system of values related to every aspect of individual and public life.
The Quran, has directives and narratives on Theology, History, Astronomy, Economics, Sociology, Sciences, Governance, Law, Medicine, etc.
In short it encompasses the complete way of life, from cradle to grave.
In here I have considered the socio-economic impact of Zakat, which forms one of the five fundamental pillars of Islam.
It will help us to understand how the economic system allows for distribution and the flow of wealth between various sections of the society.
Zakat is a highly practical and scientifically derived system and its beauty is that it does not cause any burden on the payer, unlike the Taxation system prevalent today.
Its not akin to tax, but a simple sharing system, ordained only upon the wealthy, to contribute a small, insignificant portion of their accumulated wealth (about 2.
5%), within the relatives, neighbourhood and members of the society who are economically less-fortunate.
Why this burden of Taxation? Zakat is not burdensome on any individual, since its not based on income, rather than on accumulated, unutilized wealth! This is the divine science on which Zakat is based.
This small percentage helps the flow of funds from the haves to the have-nots in the family and society.
It helps in continued stimulation of social well-being and helps each one of us to instigate our humanitarian element, by relating to the sufferings and hardships among the society.
It also helps in eradication of concentration of wealth, which is the biggest problem that the capitalist, corporate world is facing today.
It reduces our greed factor and inculcates the art of giving from what we own, thereby bringing us closer to each other and empathizing with the poor and destitutes, the have-nots and the less-privileged.
The mere act of giving also adds to the basic fulfilment of our soul, helps us lead happier,fulfilling and sensible lives - at the same time it spreads betterness amongst our families and communities and societies, at large.
The western materialistic world inculcates a culture of greed, self-centeredness and focus on individual.
Islam advocates community building, rather than individual building.
It instigates us how to think in terms of 'We' rather than 'Me', 'Us' rather than 'I', 'Our' rather than 'Mine'.
Modern-day Slavery In this world of 'corporate greed', the fruits and dignity of labour are not justifiably spread.
The gulf between the workers and a handful of corporate executives is so wide, that it builds resentment, anger and hatred.
The rich keep getting richer at a much higher rate, and rest get poorer and deteriorate, by each passing day.
In addition the free market and capitalist societies build up of a state of illusion, where human beings are all measured on the amount of wealth they have amassed and the material objects-of-desire, they possess.
This degeneration leads to sanctifying and legalizing of all forms of Riba' and Usury, which is the main cause of the downfall of the economies the world over.
Islam for this very reason, strictly condemns Riba in all its forms, including Banking Interest.
If we look around us in the developed worlds, the vast majority of the populace are drowned in debts, which they would only be able to pay off by continuing to work and toil for the rest of their lives.
This amounts to modern day slavery - A slave of the Banking and Financial system, for life.
Purification and Insurance.
Other than the obvious social and economic benefits, Zakat also purifies and insures our wealth.
Who other than the Almighty Lord, Allah, would be a better insurer! Its his promise that any wealth on which Zakat is diligently paid for will remain safe and secure and will not come in harm's way and perish.
The earth does not have permission to swallow, neither does the fire have the sanctity to burn, nor the water to drown, any wealth on which zakat has been duly paid.
Can we find a more simpler, more beautiful and better system which offers, protection, insurance, spread and distribution of wealth in this world? The answer is obvious, because we have taken to other forms of remedies which are not divine and are bound to be flawed.
Only the system ordained by the Almighty Allah can be divine and flawless.
Its timeless and Perfect.
In a broader canvas the meaning encompasses the 'process and means of attaining purification'.
In our real lives, this relates to both individual and collective purification of our wealth, by sharing a small portion of it with the poor, needy and destitute sections of the society.
Significance of Zakat Zakat is the core of the foundation of a beautiful and balanced Economic system ordained by our Creator for eradicating poverty, redistributing wealth and controlling our greed for wealth.
It helps in the circulation of economic wealth, which in turn feeds the poor, and builds upon social relationships, instilling the humane values of caring and sharing, thereby building a harmonious, inclusive 'society' as it nucleus.
Islam has a much broader canvas than the traditional definition of 'religion'.
It encompasses and lays out clear policies, processes, procedures and guidelines for every activity in our lives.
The Holy Quran, is not just a book of religious code and worship (theology), but a complete guide to the way of life.
Its a manual for humanity and provides a system of values related to every aspect of individual and public life.
The Quran, has directives and narratives on Theology, History, Astronomy, Economics, Sociology, Sciences, Governance, Law, Medicine, etc.
In short it encompasses the complete way of life, from cradle to grave.
In here I have considered the socio-economic impact of Zakat, which forms one of the five fundamental pillars of Islam.
It will help us to understand how the economic system allows for distribution and the flow of wealth between various sections of the society.
Zakat is a highly practical and scientifically derived system and its beauty is that it does not cause any burden on the payer, unlike the Taxation system prevalent today.
Its not akin to tax, but a simple sharing system, ordained only upon the wealthy, to contribute a small, insignificant portion of their accumulated wealth (about 2.
5%), within the relatives, neighbourhood and members of the society who are economically less-fortunate.
Why this burden of Taxation? Zakat is not burdensome on any individual, since its not based on income, rather than on accumulated, unutilized wealth! This is the divine science on which Zakat is based.
This small percentage helps the flow of funds from the haves to the have-nots in the family and society.
It helps in continued stimulation of social well-being and helps each one of us to instigate our humanitarian element, by relating to the sufferings and hardships among the society.
It also helps in eradication of concentration of wealth, which is the biggest problem that the capitalist, corporate world is facing today.
It reduces our greed factor and inculcates the art of giving from what we own, thereby bringing us closer to each other and empathizing with the poor and destitutes, the have-nots and the less-privileged.
The mere act of giving also adds to the basic fulfilment of our soul, helps us lead happier,fulfilling and sensible lives - at the same time it spreads betterness amongst our families and communities and societies, at large.
The western materialistic world inculcates a culture of greed, self-centeredness and focus on individual.
Islam advocates community building, rather than individual building.
It instigates us how to think in terms of 'We' rather than 'Me', 'Us' rather than 'I', 'Our' rather than 'Mine'.
Modern-day Slavery In this world of 'corporate greed', the fruits and dignity of labour are not justifiably spread.
The gulf between the workers and a handful of corporate executives is so wide, that it builds resentment, anger and hatred.
The rich keep getting richer at a much higher rate, and rest get poorer and deteriorate, by each passing day.
In addition the free market and capitalist societies build up of a state of illusion, where human beings are all measured on the amount of wealth they have amassed and the material objects-of-desire, they possess.
This degeneration leads to sanctifying and legalizing of all forms of Riba' and Usury, which is the main cause of the downfall of the economies the world over.
Islam for this very reason, strictly condemns Riba in all its forms, including Banking Interest.
If we look around us in the developed worlds, the vast majority of the populace are drowned in debts, which they would only be able to pay off by continuing to work and toil for the rest of their lives.
This amounts to modern day slavery - A slave of the Banking and Financial system, for life.
Purification and Insurance.
Other than the obvious social and economic benefits, Zakat also purifies and insures our wealth.
Who other than the Almighty Lord, Allah, would be a better insurer! Its his promise that any wealth on which Zakat is diligently paid for will remain safe and secure and will not come in harm's way and perish.
The earth does not have permission to swallow, neither does the fire have the sanctity to burn, nor the water to drown, any wealth on which zakat has been duly paid.
Can we find a more simpler, more beautiful and better system which offers, protection, insurance, spread and distribution of wealth in this world? The answer is obvious, because we have taken to other forms of remedies which are not divine and are bound to be flawed.
Only the system ordained by the Almighty Allah can be divine and flawless.
Its timeless and Perfect.
