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What is Zakat? What is the Importance of Zakat? Write a detailed note with the one reference of QURAN and one reference of HADITH.
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Answer:
zakat is payment made annually under Islamic law on certain kinds of property and used for charitable and religious purposes, one of the Five Pillars of Islam.
Explanation:
Zakat in Qur'an and Hadith
“And establish prayer and give Zakat, and whatever good you put forward for yourselves – you will find it with Allah.” (2:110, Qur'an) ... According to the Hanafi madhab, zakat is 2.5% of wealth that has been in one's possession for a lunar year.
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