It’s always a great day in the Rizq office when a new partner is brought on board, and today we are very excited to announce our official partnership with the National Zakat Foundation (NZF).
NZF and Rizq
As partners, NZF and Rizq have come together to bring Zakat to more people through the Rizq app.
As a Rizq account holder, you are able to log in to your account and donate directly to NZF, without having to fill out any details – apart from the amount, of course. Now you can send money to support NZF in as little as 10 seconds, and it really is that easy! Whilst Rizq also supports charities that work abroad, NZF’s focus on local communities within the UK makes this a very appealing partnership.
The team within Rizq has always made helping others an integral part of their work, and so partnering with NZF is a happy and joyful occasion for all.
About National Zakat Foundation
Launched in 2011, NZF receives your Zakat and distributes it to thousands of Muslims in need across the UK – while also making the whole process easier by providing an online calculator to work out your Zakat, and letting you choose which causes to support. NZF ensures that your Zakat goes to eligible Muslims, and a live tracker lets you see how many are giving Zakat in your area.
What is Zakat?
Zakat is a mandatory process for Muslims and is regarded as a form of worship. Giving money to the poor is said to purify a Muslims yearly earnings that are over and above what is required to provide the essential needs of a person or family.
- Zakat is a religious obligation, requiring all Muslims who meet the necessary criteria to donate a certain portion of wealth each year to charitable causes.
- Zakat is based on income and the value of possessions.
- If an individual’s wealth is below the nisab during one lunar year, no zakat is owed for that period.
How Zakat Works
Zakat is one of the Five Pillars of Islam. It’s a requirement for Muslims earning above a certain level to perform Zakat on a yearly basis.
Zakat is based on income and the value of possessions. The common minimum amount for those who qualify is 2.5% of a Muslims total savings and wealth.
Each year, between $200 billion and $1 trillion are spent on mandatory alms and voluntary charity across the Muslim world, according to Islamic financial analysts.
Zakat is often paid out at the end of the year once calculations on any leftover wealth are made. Recipients of Zakat are the poor and needy, enslaved people, people in debt, soldiers fighting to protect the community and those stranded during their travels. The collectors of zakat are also compensated for the work they do.
How can you support NZF?
It’s very simple, just download the Rizq app, open an account, and you can donate directly to NZF within a few simple steps.