view MTFA Zakat Brochure

TYPES OF
ZAKAT
FAKIR
Zakat on Savings
Zakat on Gold
One who has neither material possession nor
means of livelihood and, one who suffers and
has no means to sustain his/her daily needs
MISKIN
ZAKAT ON
WEALTH
ZAKAT
FITRAH
(Payable in
Ramadham before
Eid Prayers)
Zakat on CPF
One with insufficient means of livelihood to
meet his/her daily needs
Zakat on Business
Zakat on Shares
Zakat on Insurance
AMIL
One who is appointed to collect Zakat and who
incurs expenses in the administration of Zakat
MUALLAF
One who has recently embraced Islam
RIQAB
One who wants to free himself/herself from
the bondage of slavery
(In Singapore, it refers to one who requires financial
assistance to pursue his/her education)
DISTRIBUTION
BY ASNAF
GHARIMIN
40%
25%
One who is in debt and needs assistance
to meet his/her basic needs
FISABILILLAH
25%
One who strives in the cause of Allah for the
betterment of the community
10%
IBNUSSABIL
Stranded travellers on a permissible journey
Fakir
Miskin
Riqab
Amil
Muslimin Trust
Fund Association
Zakat
Zakat is for the poor, and the needy and those
who are employed to administer and collect it,
and the new converts, and for those who are in
bondage, and in debt and service of the cause of
Allah, and for the wayfarers, a duty ordained by
Allah, and Allah is the All-Knowing, the Wise.
(Surah At-Tawba: Verse 60)
CALCULATION OF ZAKAT
MODES OF PAYMENT
Zakat is payable at the end of each Haul (1 Hijrah
year or 355 days) if the assets reach the Nisab value
(market value of 86 grams of gold) throughout the
entire Haul.
1. BY CASH/NETS
Our Zakat Collection Centres:
ZAKAT ON SAVINGS
Lowest Balance within the Haul X 2.5%
DARUL IHSAN BOYS’ ORPHANAGE
5 Mattar Road, Singapore 387713
Tel: 6747 7556
ZAKAT ON GOLD
Gold refers to gold bars or unused gold jewellery
Market Value of Gold kept X 2.5%
DARUL IHSAN GIRLS’ ORPHANAGE
23 Wan Tho Avenue, Singapore 347552
Tel: 6285 2973
ZAKAT ON CPF
• If a person is living comfortably and has no
difficulty in paying Zakat every year through
savings or in arrears when CPF monies
is withdrawn:
* Amount in Ordinary Account X 2.5%
* Medisave and Special Account not accountable for Zakat
2. BY CHEQUE
Name:
NRIC
:
Address
:
(incomplete possession)
• If a person still has financial commitments and will incur great hardship if he/she pays in
arrears when CPF monies is withdrawn: Amount Received from CPF Savings at Point of Withdrawal X 2.5%
Tel (Home) :
ZAKAT ON BUSINESS
(Current Assets – Current Liabilities +/Adjustments at Year End) X
Percentage of Muslim Ownership Share X 2.5%
• Savings
$
• Gold $
• CPF
$
ZAKAT ON SHARES
No. of Shares X Market Value per unit of Share
at the end of the Haul X 2.5%
• Shares
ZAKAT ON INSURANCE
Surrender Value at the end of the Haul X 2.5%
Cheque must be crossed and made payable to:
MUSLIMIN TRUST FUND ASSOCIATION
Tel (Mobile) :
Email
:
Please indicate the type of Zakat
• Business $
$
• Insurance $
Send your cheque to:
MUSLIMIN TRUST FUND ASSOCIATION
5 Mattar Road, Singapore 387713
3. ONLINE
You can donate online through SG Gives via
a link available at MTFA Website:
http://www.mtfa.org/index.php/donation/
Please indicate
Zakat Payment (Zakat Type)
under the ‘Dedication’ field
4. GIRO
For monthly GIRO contributions, you
will need to divide the estimated Zakat
payment that you are liable for at the end
of the Haul over the 12-month period.
You may pay the difference as a lump
sum by cash or cheque if the actual Zakat
amount payable at the end of the Haul is
more than the estimated amount.
Conversely, excess contribution can be
carried forward as advance payment
of Zakat for the following year or
be intended as voluntary donation
(Sadaqah).
A receipt will be issued at the end of the
year for the total amount of Zakat paid.
Please download our GIRO form at
MTFA Website:
http://www.mtfa.org/index.php/donation/