Article Reference: IslamiCity
Zakat, or Community Wealth Tax, is a religious obligation that regulates the wealth contribution of Muslims. In its definition, zakat means "purity" and "growth," which are religious connotations. It is a practical manifestation of Ummah and establishes mutual solidarity between them by creating a firm bond between rich and poor individuals. Zakat serves various functions in Muslim society, including religious, economic, and social functions. Zakat is an embodiment of Islam, affirming God's ownership of everything in the universe and acting as an expression of gratitude towards the Bestower. Zakat encourages investing wealth for society's benefit.
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Zakat contributes to social stability by purifying the souls of the rich and poor of selfishness and resentment against society by promoting the ummah and solidarity. It is not merely used to meet the present needs of the poor and needy but also serves other problems that deeply affect social life, such as freedom, indebtedness, defence and security of Muslim land, and the need of those away from home seeking knowledge or a lawful livelihood.
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