For Whom We Should Give Zakat
Zakat shall be paid to the eight kinds of persons mentioned in the Quranic verse: "Alms are only for the poor and the needy, and those employed to collect (the funds), and to attract the hearts of those who have been inclined (towards Islam), and to free the captives, and for those in debt, and for Allah’s cause, i.e., for Mujahidin - those fighting in a holy battle), and for the wayfarer (a traveler who is cut off from everything); a duty imposed by Allah. And Allah is All-Knowing, All-Wise." ( Surah Altawbah verse 60).
Key Rules Regarding Payment of Zakat
1. In principle Zakat shall be paid immediately at the time of its maturity to the specified beneficiaries. However, Zakat may be employed as needed on investment projects that end with transferring the ownership of such projects to these beneficiaries.
2. Zakat has no statute of limitation.
3. Zakat, if there is an obvious benefit, may be transferred to another country other than its contributor country.
4. The Zakat contributor shall not release a debtor from his debt against paying Zakat.
Non Zakatable Assets & Wealth
1. There is no Zakat on Public Assets or funds and also extracted minerals if they are owned by the government.
2. There is no Zakat on Public Social Insurance Funds of Public Organizations
3. There is no Zakat on Charitable Trust funds. For Private Trust funds the Zakat shall be paid on the remaining amounts which the beneficiaries have received after the span of the maturity period.
4. There is no Zakat on Properties or fund Trusted/Entrusted for Scientific, Charitable or Social Organizations.