Zakat Calculations

Course Overview

This course offers an in-depth and practical understanding of Zakat. It is aimed at Muslims who are seeking to understand the obligation of Zakat as well as how to calculate it and pay it with ease. The course elaborates upon the meaning, importance, and significance of Zakat within Islam. It discusses what is considered to be Zakat-able and what isn’t including discussions on jewelry such as gold and silver. The types of income and assets which pertain to Zakat are also discussed. Income earned through haram or prohibited means, short-term investments, long-term investments, stocks, and other assets are detailed in their relation to calculating Zakat. Pension funds, debts, Islamic instruments such as ijara and musharaka, are all detailed along with Zakat deductions. The method of calculating missed Zakat is explained along with Zakat eligibility and the Nisab, the financial eligibility cut-off. Recipients of Zakat are detailed and finally several case studies to help in practical understanding. Any Muslim seeking to fulfill the obligation of Zakat will benefit immensely from this course and be equipped to fulfill their obligations with Ihsan. 

Learning Outcomes

Upon successful completion, students should be able to:

• Recognize the sheer importance of Zakat within Islam
• Differentiate between the Zakat on jewelry such as gold, silver, etc.
• Explain the ruling on Haram Income and its Zakat
• Understand the Zakat due on assets and investments of various types
• Recognize the impact of debt upon Zakat calculations
• Identify factors that could cause Zakat deductions
• Explain the method for calculating missed Zakat
• Recognize the valid recipients of Zakat
• Understand how to determine eligibility for Zakat