MPF aims to make the process of calculating zakat as simple as possible. We have broken down the calculation process into zakatable assets (gold, silver, cash, savings, business assets etc.) and deductible liabilities (money you owe, other outgoings due) so you can calculate the zakat you owe easily.
The amount of zakat you need to pay will be determined once you have calculated the value of your net assets. You then need to see whether your net assets are equal to, or exceed, the Nisab threshold.
Traditionally, the Prophet (ﷺ) and His followers would give their Zakat directly to those in need and now, with MPF, you can follow in their footsteps with our innovative cash sponsorships.
Zakat is the third pillar of Islam and is a compulsory charitable payment for all eligible adult Muslims that meet the nisab threshold.
The nisab is the minimum amount of total wealth that Muslims must own before Zakat becomes mandatory. The Prophet (ﷺ) set the nisab threshold to be equivalent to 87.48 grams of gold and 612.36 grams of silver.
Zakat in Islam is a payment of 2.5% of our total savings and wealth. Zakat donations benefit the impoverished and disadvantaged. Paying your Zakat can help hundreds of people, and gain you Sadaqah Jariyah for years to come.
When we think on the blessed payment of Zakat, we are reminded of the following Hadith:
“Charity never decreases wealth.” – [Muslim]
MP Foundation distributes 100% of your Zakat directly to eligible Quranic beneficiaries (0% admin deduction).
Our simple to use calculator will help take the stress out of working out your Zakat amount. As long as you have details of all the assets you own to hand, you can quickly find out how much you need to give.
Calculate the total value of all your zakatable assets including cash, gold, silver, investments, and business assets.
Subtract your immediate debts and liabilities from your total assets to get your net worth..
Ensure your net assets meet or exceed the Nisab threshold (87.48g gold or 612.36g silver equivalent).
Calculate 2.5% of your net zakatable assets – this is your Zakat obligation for the year.
Many people get confused about which assets they need to include in the calculation and which debts can be taken off. Our Knowledge Bank contains lots of information to help clear up the most common questions or you can let our Calculator app do the hard work for you. If you have any other questions about calculating your Zakat or need extra support, get in touch to find out how else MPF can help.
