Zakat (Alms giving) is a part of devotion enjoined upon Muslims by the Holy Quran. It is a means where the well-off pay a set amount of their wealth. Zakat means to purify oneself. It is obligatory on Muslims to pay a little percentage of their accumulated wealth towards Zakat, which is used for the benefit of the needy and the poor.
Zakat is not levied on one’s property that is in personal use, rather on the assets which have a means of increasing and which are surplus to one’s needs. It is a means of social justice and order. It teaches sympathy of the highest order.