The following is a list of benefits of giving Zakat, which comes from a lecture given by Shaikh Muhammad bin Salih Al-`Uthaimeen on the subject of “Zakat” under the guidelines of Fiqh Council, Jeddah.
1 – Forgiveness from Allah جل وعلا for all the sins committed before giving Zakat, and after it. This is based on what Imam Ahmad has reported about Anas رضي الله عنه that he said: “I heard the Messenger of Allah saying: ‘When a man dies while owing some debts or dues (Zakat) then his good deeds will be canceled for him except three things; Sadaqah Jariyah, beneficial knowledge or a pious child who prays for him.”
Note: Zakat is due only on savings over the necessities to live by. Allah جل وعلا says what can be translated as “Alms are only for the poor and the needy, and those who collect them, and for bringing hearts together, and for freeing captives, and for those in debt, and the cause of Allah, and (for) the wayfarer; a duty imposed by Allah…” [TMQ Al-Tawbah:60]
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Zakat becomes due on a person only if they have Nisab, which is 87.48 grams of gold or 695.75 grams of silver or its equivalent in trade goods (according to last year’s price) excluding one-tenth (10%), which is due upon Zakatable assets. If the value of zakatable assets reaches this limit, then Zakat becomes compulsory on these assets at their value when reaching the required minimum limit.
The value of Zakat is deducted from the balance. For example, suppose a person has $105,000 in his savings account and accumulates zakatable assets that reach the prescribed limit. In that case, Zakat immediately becomes due on these assets irrespective of their actual value when it reaches the required level.
2 – It increases one’s Iman (belief) because an authentic hadith related by Bukhari and Muslim reported that Abu Sa’id Al Khudri said:
“We accompanied Messenger of Allah in Ghazwa [military campaign] Tabuk… Some people said: “O Messenger of Allah! Will you not appoint a leader for this army” He said: “Allah is their leader; His Messenger is their leader, and the best among you are their leaders.”
The people said: “You are our leader.’
He said: “I am not your leader.” They were silent, at which point he said to them.” O Muslims! You are those who have offered Bay’ah [pledge] of allegiance at the hand of one man, whereby Allah appointed him as your Imam and entrusted your affairs to him. Then, if another man comes to you while you know his worth in Islam, do not entrust your affairs to him.'” (from Bukhari)
By being patient till it is time for Zakat, a believer develops this thinking that whatever wealth he has must be disposed of according to what Allah جل وعلا has legislated.
3 – A believer becomes aware that all his wealth is not his in reality; instead, the money belongs to Allah جل وعلا so it should be returned to Him with Zakat. This helps develop righteousness and holiness because when a person comes face to face with the truth of reality, he will act upon Allah’s orders.
4 – It purifies ‘Nafs’ (self) from miserliness, stinginess, and selfishness. When one starts paying Zakat, he understands that he gets a great reward when he gives away an imperishable portion of his wealth.
5 – It develops spiritual ties between people because the one who gives Zakat will feel the need to get closer to Allah جل وعلا by making others happy.
6 – It protects from the wrath of Allah جل وعلا because when a person gives away in charity, he will find himself in peace and tranquility, which is an indication that his heart has become cleansed of ill-feeling toward people. This makes him immune to any calamity or wrongdoing.
Muhyiddin Ibn-al-Arabi said: “The scale for good deeds is huge; if one has missed some, he can catch up with it later.” So just because you do not have much wealth now does not mean that you cannot start paying Zakat right away until it reaches the Nisab level. It elevates a believer’s status because when a person pays Zakat Allah جل وعلا increases his Rizq [provision) and blessings.
Please donate your zakat here: https://www.sktwelfare.org/ramadan/pay-your-zakat/