Dear Reader,
- You can Put Smiles on the faces of the Orphans, the Needy and the Poor with Your Zakat
- You Can Have Thousands of Widows economically Empowered with Your Zakat
- What You Need to Know About paying your Zakat through AWF
- You can Get Thousands of the Needy & the Poor Armed with Lucrative Skills with Your Zakat
- Discover How Quickly You Can Assist Widows with Your Zakat to Save Their Dignities
Zakat is an Islamic concept of obligatory charity that is mentioned numerous times in the Quran. It is one of the Five Pillars of Islam, along with the declaration of faith, prayer, fasting during Ramadan, and the pilgrimage to Mecca.
In the Qur’an, Zakat is mentioned in several verses, including:
“And establish prayer and give zakat, and whatever good you put forward for yourselves – you will find it with Allah. Indeed, Allah of what you do, is Seeing.” (2:110)
“Take, [O, Muhammad], from their wealth a charity by which you purify them and cause them increase, and invoke [Allah’s blessings] upon them. Indeed, your invocations are reassurance for them. And Allah is Hearing and Knowing.” (9:103)
“And those within whose wealth is a known right for the petitioner and the deprived” (70:24-25)
These verses and others emphasize the importance of giving Zakat to help the less fortunate and to purify oneself.
Zakat is typically given as 2.5% of an individual’s wealth that has been held for a year or more, and it is distributed to the poor, the needy, and others who are eligible to receive it according to Islamic law.
Let’s look at how to calculate your zakat:
Step 1: Add or sum all your Zakatable assets (A) e.g.
- Cash at home and bank
- Your company shares
- Your Gold, Silver, etc.
- Fixed Asset and properties
- Business Assets
- Recoverable debts etc.
Step 2: Add or sum up all your liabilities (L) e.g.
- Personal liabilities
- Loans and Debts
- Business liabilities
- Value of goods purchased on credit etc.
Step 3: Subtract all liabilities (L) from the all assets (A)
Zakatable Amount = All Assets (A) – Liabilities (L)
Step 4: Payable Zakat is 2.5% of Zakatable Amount above
Payable Zakat = Zakatable Amount/40
Step 5: Then deposit the payable zakat to the bank account detail below:
1. Naira Account Detail:
Account Name: Almubarak Waqf Foundation
Account No.: 0695360596
Bank: GT BANK
2. US Dollar Account Detail
Account Name: Almubarak Waqf Foundation
Account No.: 06935 45025
Bank: GT BANK
Yes! It’s that time of the year again where we need to remind you about the right of the widows, the poor and others on your wealth through zakat.
Despite the distribution of Zakat for the past few centuries, the impact on our communities towards achieving equality and development has not reached the level it should. We are disturbed by this and we know you might have been disturbed by this reality too.
Alhamdulillah! We at Almubarak Waqf Foundation have labored to come up with a strategic plan to make the impact of zakat to be felt in our communities on your behalf.
That is why Almubarak Waqf Foundation will assist in making sure that zakat collected are properly channeled to the right recipients as specified by the Sharia. We also are here to make sure that the recipient utilizes it in lucrative ways to benefit himself/herself and the society.
Permit me to tell you, how we are going to help the needy and the poor
- All we need to do is get more of those who believe in helping the needy and the poor with his/her zakat, just like you!
- Then get them to donate their zakat to us towards achieving our goals in helping the poor and the needy.
- We then distribute the zakat to the right recipients as specified by the donor of the zakat, making sure that it does not contravene Allah’s injunction.
- In the absence of the donor specification we distribute the zakat in accordance with Islamic law or Sharia
Imagine how you will feel to be able to help widows, the needy, the poor etc. to be financially free, self-employed and empowered. You’ll be able to save lives that would have died from hunger or poverty. You’ll be able to empower the widows and preserve their dignities. With your Zakat you’ll be able to save the poor and the needy from needless crimes due to hunger or poverty
Why do you need to pay Zakat through Almubarak Waqf Foundation? If you pay or donate your zakat through AWF we will be able to bring your beneficiaries through several training and assistance to make sure they can be self-employed and self-sufficient, and benefit the Muslim Ummah at large.
Some of the benefits the beneficiaries of your Zakat stand to enjoy are:
- Financial Inclusion: we are going to bring the prospective beneficiaries into our microcredit and microfinancing scheme.
- Training on skills acquisition: the beneficiaries are going to be trained on skills acquisition so they can be self-employed or self-reliant.
- Training on simple book keeping: the beneficiaries of your Zakat are going to be trained on simple book keeping and accounting to be able to know whether they are making profit or loss in their small businesses
- Advisory: the beneficiaries of your Zakat are going to enjoy free consultation and advise to facilitate judicious use of the Zakat
- Monitoring and Evaluation of impact of Zakat on the beneficiaries: on your behalf Almubarak Waqf Foundation (AWF) is going to monitor and evaluate the impact of the Zakat on the beneficiaries and give reports and feedback.
- Institutionalizing Zakat in our socio-economic system: AWF is working on establishing Zakat as a normal practice in our society for economic development.
- Statistics: AWF is going to collect data and analyze it and deduce how best we can use the Zakat to help in socio-economic developments.
- And many more.
Almubarak Waqf Foundation is a non-profit organization that was set up to solve many of these problems faced by the widows, the needy and the poor. And we have helped several hundreds of widows, the poor and the needy, and will continue to do so.
We help in collection and distribution of zakat based on the conditions specified by the givers. With this, we will be able to get some of the widows, orphans, the poor and the needy off the streets begging for foods or engaging illicit acts.
It is good to remind ourselves about the benefit we are gaining by giving our Zakat. There are numerous benefits:
- You will earn Allah’s mercy here and in the hereafter.
- You get that good feeling of having carried or fulfilled an injunction from Allah
- You would earn continuous rewards (Sadaqatul Jariyyah) if you donate part of your zakat as Waqf (endowment)
- Besides you will earn multiple rewards for giving out your Zakat in this holy month of Ramadan etc.
What are you waiting for? We have less than 9 days to the end of Ramadan. So donate now to earn immense reward from Allah. Our bank details are:
1. Naira Account Detail:
Account Name: Almubarak Waqf Foundation Zakat Collection Account
Account No.: 0695360596
Bank: GT BANK
2. US Dollar Account Detail
Account Name: Almubarak Waqf Foundation
Account No.: 06935 45025
Bank: GT BANK