Zakat is an annual religious tax imposed on Muslims in most Middle East and some Asian countries. It is levied according to Koranic law on the person's liquid assets and is used for the benefit of the poor.

Reference:
Bib ref: S. Siddiqi, "Zakat", in S. Peerzade (ed.), Readings in Islamic Fiscal Policy, Adam, Publishers, 1996; Y. al-Qardawi, "Fiqh az-Zakat", Dar Al Taqwa Ltd., 1999.

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