✏️ BY: Dr. Hana Saada
Algiers, Algeria | July 7th, 2024 — The Ministry of Religious Affairs has announced the Zakat threshold for this year in a statement released on Sunday. The threshold has been set at 1,105,000 Algerian dinars, equating to over 110 million centimes.
According to Islamic precepts, every individual who possesses at least this amount for an entire year is obligated to donate 2.5% of their wealth to those in need. This form of charity is one of the Five Pillars of Islam and is meant to aid the less fortunate in society.
The Ministry of Religious Affairs explained that the Zakat amount was calculated based on the current price of gold, which is estimated at 13,000 dinars per gram this year. This method ensures that the threshold is aligned with the contemporary economic situation and the value of assets.
The announcement serves as a reminder to the Muslim community of their religious duty to support the needy. By adhering to this principle, individuals not only fulfill a religious obligation but also contribute to the welfare and stability of society by redistributing wealth to those who need it most.
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