Zakat is an act of worship we perform with the wealth Allah has blessed us with.
It is a religious duty which cleans away impurities from our provision and ensures excess wealth is distributed among those in need.
Zakat is an obligation upon any Muslim who has reached puberty, is sane, and has above the minimum required amount of wealth (Nisab).
It requires giving a calculated amount (usually 2.5%) to the poor and needy.
Zakat should be calculated and paid on any surplus wealth that you have owned for at least one lunar year.
The easiest way to calculate your Zakat is to find out the monetary value of each type of wealth and then work out 2.5% of the total sum.