Dhaka, March 22 -- Zakat is one of the five pillars of Islam and serves as the foundation of Islamic economics.

The Arabic word zakat carries two primary meanings: sanctification and augmentation.

When zakat is paid, wealth is purified, and the rightful share of the poor is released. This makes the remaining wealth halal and blessed.

Zakat plays a crucial role in eliminating class inequality, reducing poverty, and increasing economic stability. It prevents the accumulation of wealth in the hands of a few and ensures fair distribution.

According to Islamic law, zakat is an obligatory duty for wealthy Muslims.

If a person possesses wealth beyond their necessary expenses for a full year, a specific portion must be donated to eligible re...