- Zakat Fitra
Zakat' is one of the five pillars of Islam, where the well-to-do in possession of money, gold, silver, stocks or shares that amount to more than the value of 85 grams of gold or 595 grams of silver (at current market rates), are required to donate 2.5% of the total valuation of their wealth, annually. Through Zakat, the poor, including widows, orphans, the disabled and the destitute are cared for. On the other hand, Fitr is charity done by all Muslims - men, women and children - belonging to any stratum of society. It is essentially handed out before the day of Eid. It is not permissible to pay Fitr later than that. While Zakat is mandatary for the rich, Fitr is charity that is voluntarily given to the needy by all Muslims who can afford it.