# The Meaning and Purpose of Zakat

**Source**: https://www.utp.edu.my/Pages/The-University/Zakat/Collection.aspx
**Parent**: https://www.utp.edu.my/Pages/The-University/Zakat/Distribution.aspx

## Zakat Management

- [Introduction](https://www.utp.edu.my/Pages/The-University/Zakat/Introduction.aspx)
- [Collection](https://www.utp.edu.my/Pages/The-University/Zakat/Collection.aspx)
- [Distribution](https://www.utp.edu.my/Pages/The-University/Zakat/Distribution.aspx)
- [Payment Method](https://www.utp.edu.my/Pages/The-University/Zakat/Payment-Method.aspx)
- [Application](https://www.utp.edu.my/Pages/The-University/Zakat/Application.aspx)
- [Contact Us](https://www.utp.edu.my/Pages/The-University/Zakat/Contact-Us.aspx)
- [Gallery](https://www.utp.edu.my/Pages/The-University/Zakat/Zakat-Gallery.aspx)

## Giving to UTP

- [Yayasan UTP](https://www.utp.edu.my/yayasan/Pages/default.aspx)
- [Zakat Management](https://www.utp.edu.my/zakat/Pages/zakat.aspx)

**UTP Zakat Collection & Distribution**\

- [2020​](https://www.utp.edu.my/Pages/The-University/Zakat/UTP%20Zakat%20Collection%20%26%20Distribution/UTP-Zakat-Collection-%26-Distribution%202020.aspx)\
- [2019​](https://www.utp.edu.my/Pages/The-University/Zakat/UTP%20Zakat%20Collection%20&%20Distribution/UTP-Zakat-Collection-&-Distribution%202019.aspx)​​

**Collection​**

# **The Meaning and Purpose of Zakat**

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Zakat is a divine injunction and an ordinance from Allah Himself. It is not a personal matter or a voluntary contribution; rather, it is an obligation for which one will be called to account before Almighty Allah.

Zakat is indispensable as it helps achieve reform, both financially and spiritually. It eliminates misery and greed from hearts and consolidates the Islamic economy, leading to its stability and prosperity.

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# **Types of Zakat**

There are different types of zakat such as:

- Income Zakat
- Business Zakat
- Savings Zakat
- Gold and Silver Zakat
- Shares Zakat
- EPF Zakat
- Qadha' Zakat

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# **Criteria to Pay Zakat**

When a person meets a certain set of criterias, he/she is made compulsory to perform zakat. The criterias are: 

1. Muslim / *Islam*
2. Independent / *Merdeka* – Not a slave. Free to seek wealth.
3. Full ownership - The property must be wholly owned and usable at the time required without being bound by the permission of others. Perfect in terms of ownership (*Hak Hiyazah*) and managing ability (*Hak Tasarruf*).
4. *Nisab* - *Nisab* is the minimum rate set by *Syarak* to obligate zakat. Some of the assets to be given as zakat must be equal to or greater than the value of 85 grams of gold at current price.
5. *Haul* - *Haul* is the amount of time a property is held / owned and it has to be over a year (12 months). The *haul* estimate in Islamic law is based on the date of hijriyah (354/355 days). Whenever a year of property is owned, then it is obligatory to pay zakat.

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# **Source of Zakat Collection / Zakat Revenue**

Zakat and Waqaf Management Unit (ZWMU) has identified four (4) sources of Zakat collection or revenue from Universiti Teknologi PETRONAS (UTP) which are: 

- UTP Staff\
- Alumni
- PETRONAS Staff
- Community\

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# **Zakat Calculator**

There are different ways of calculating zakat. Below are calculators that will help to guide on the amount of zakat needed to be given based on the type of zakat: 

- [Income zakat](https://www.maiamp.gov.my/kalkulatorzakat/) \

- [Business zakat](https://www.maiamp.gov.my/kalkulatorzakat/)

- [Savings zakat](https://www.maiamp.gov.my/kalkulatorzakat/)

- [Shares / Stock zakat](https://www.maiamp.gov.my/kalkulatorzakat/)

- [Gold / Silver zakat](https://www.maiamp.gov.my/kalkulatorzakat/)

- [EPF zakat](https://www.maiamp.gov.my/kalkulatorzakat/)\

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**Last updated: 07 May 2021**\