What is Zakath?
Zakath is the third pillar of Islam. There are different opinion in it being a mere Worship as it does not require puberty of the performer. Zakath is a compulsory payment on Muslims who possess the Nisab the Zakathable amount of wealth, on a regular basis performed once in a year. It is a practice of charitable giving from his wealth for eight categories who are in need of financial assistance and finding difficult to make an earning.
The Allah the Almighty has made this material obligation to bring about the economic justice by preserving socio-economic balances, achieving adequate employment for all members of the society, while preserving the wealth and income of the people, securing economic satisfaction of the society in general and promoting general welfare while guaranteeing the basic needs of its individuals.