100 % zakat Policy means nothing from the zakat donations are used except it is only given to those who are eligible for Zakat . These are the 7 categories of people as explained by the scholars of the Muslim religion.
Here is a simple video to explain the basics of Zakat
What is zakat payed on ?
What are the issues related to Zakat related to Gold , Silver , Money?
Do you pay Zakat on Jewellery that you wear?
Can Zakat be given in Installments?
Do you pay Zakat on loans and debts?
When you send Zakat, you must ensure the form below is completed, so Zakat is only paid to those who are eligible in the Shariah.
When Is Zakah Due?
Zakah is paid when two conditions are met:
The Nisaab: the minimum amount of wealth a Muslim must possess before they become eligible to pay Zakat.The Hawl: A lunar Year (354 Days/Islamic Year) has passed on it after reaching the Nisaab .The Nisab was set by the Prophet Muhammad (peace be upon him) at a rate equivalent to: 87.48 grams of gold and 612.36 grams of silver. In today’s day and age we do not use silver or gold as a monetary exchange so when calculating your Zakat, you need to find out the equivalent of the rates the Prophet (peace be upon him) set but in your local currency. This can be done by checking the market rate of gold and silver today. If the money comes to less than the nisaab amount then no Zakah is due.
How Much Do I Pay?
Rehmah Global Relief uses the value of Gold as the standard for the Nisaab, so the minimum current amount is: £3767.35 before Zakah is due to be paid. For example, if a year had passed on this amount you would pay 2.5% of this which would be £94.18. If you had £5,000 in wealth/assets saved and a year had passed on it then you would pay £125.00.
Those things classed as your wealth and Assets which are Zakah applicable:
Cash – in the bank or at home and that which is saved for anything specific.
Gold and Silver – The value of it in your local currency according to the Nisaab.
Shares – The value of the shares you own at their market price.
Money owed to you – If it is expected to be repaid.
Your Business – The balance sheet value of the Stock you possess.
Your Properties – Any rental income that’s been saved of the year. The equity value of your investment property portfolio is not included as part of your assets in the Zakat calculation.