How to Calculate Zakat in Canada

Introduction

One of the five fundamental pillars of Islam, zakat is much more than a financial system. The values associated with the revolutionary concept of zakat are a glorious asset of the religion Islam. The benefits of becoming a part of this financial system are threefold, something that we will throw light on later in this article. Also discussed in this discussion will be the proper method through which one can calculate zakat in Canada. Calculating zakat can be a complex business, especially if your list of asses is a long one. Hence, calculating zakat in Canada and other countries can be tricky for Muslims living in these countries. If you promise us that you will stay with us until the very end of this discussion, we will share a magical way of calculating zakat in Canada with you. Ah, now you are interested! 

Zakat: A revolutionary concept

As mentioned earlier, the benefits associated with zakat are threefold. Donor, recipient, and society. All three of these benefit from the wonderful financial concept that zakat is. You must be wondering how? Well, let us explain this one by one. There is no better way of purifying your wealth than paying zakat, the spiritual cleansing of your wealth is priceless. Those who receive zakat have a chance to financially support themselves. The ultimate beneficiary of zakat is society itself since zakat counters financial stagnancy and keeps wealth in circulation.

Does every Muslim pay zakat?

The answer to this question is no, every Muslim doesn’t have to pay zakat. Rather, only those Muslims are eligible for zakat who have a certain amount of wealth, known as Nisab or the threshold limit for zakat. So, what is Nisab? The Nisab threshold for gold is 85g or as in some countries, 7.2 tolas. In terms of silver, one must have 612.36 grams of silver, before they are eligible to pay Zakat. You do not have to pay a 2.5percent in name of zakat if you do not meet the Nisab threshold.

Calculating zakat in Canada

Now we answer the question around which this debate has been structured. How to calculate zakat in Canada? Folks, you don’t need a pen or paper to calculate zakat. This is the 21st century that we are living in, all that you need is a decent zakat calculator online. You can put in the figures of all your assets and the calculator will come up with a number that you will have to pay. Rest assured that this number is exactly 2.5 percent of your possessions. Nothing more, nothing less! 

How to pay zakat in Canada?

If you do not feel like going down to an office or visiting an underprivileged family, you can make your donation online as well. There are many online donation platforms operational in Canada, which will be happy to use your zakat money for taking care of those who are suffering from all sorts of miseries. If you do not care about the area of operations, the scope becomes even wider. On the other hand, if you are interested in donating towards the health sector, one platform that you can consider is Transparent Hands.

Transparent Hands – Easily calculate zakat in Canada

When it comes to crowdfunding for health, there is no platform bigger than Transparent Hands in Pakistan. The range of healthcare services offered by Transparent Hands is astoundingly vast. From medical and surgical treatments to medical camps and telehealth facilities, the NGO makes sure that the underprivileged Pakistanis have access to quality healthcare services. The NGO believes in creating a patient-donor bond while making sure that the protocols of transparency aren’t breached at any point. The NGO realizes the need for free medical camps in the rural areas, hence it actively sets up such camps as well. To donate, donors can log in to the Transparent Hands crowdfunding web portal from anywhere in the world. Payment modes are one hundred percent secure. Every donor has absolute freedom in selecting and funding patients of their choice. The NGO makes sure that regular updates until complete recovery are sent to the concerned donor.

Conclusion

Well, that will be all from this discussion. We thought it prudent to recap the glorious concept of zakat in the beginning. That will remind you of the significance of this beautiful Islamic tradition! And we are sure that by now, calculating zakat in Canada is no issue for you, at all!

Read More: 10 Crowdfunding Platforms for Canadians