Zakat is a mandatory act of worship for every Muslim who meets the nisab (minimum threshold). It is 2.5% of your qualifying wealth, paid annually.

Key principles:

• Zakat is due when your total zakatable wealth exceeds the nisab for one full lunar year
• Nisab = value of 87.48 grams of gold OR 612.36 grams of silver (use the gold standard — it's more widely accepted)
• Zakat is calculated on your total wealth on your zakat anniversary date
• It purifies your wealth and fulfils your obligation to society

"Take from their wealth a charity by which you purify them and cause them increase." — Surah At-Tawbah 9:103