Islam - Its Meaning for Modern Man — Page 264
264 gift of God to the whole of mankind. Wealth is produced by the application of man’s skill and labour to the resources which God has provided for man’s subsistence and comfort and over part of which man enjoys proprietary rights, to the extent recognised by Islam. In the wealth that is produced, therefore, three parties are entitled to share: the workman, whether skilled or unskilled; the person who supplies the capital; and the community as representing mankind. The community’s share in produced wealth is called the Zakat. After this has been set aside for the benefit of the community, the rest is “purified” and may be divided between the remaining parties that are entitled to share in it. The Zakat is assessed on both capital and income. Its incidence varies with reference to different kinds of property, but on the average it works out at two and one-half per cent of the capital value. The proceeds of the Zakat are devoted toward relieving poverty and distress, winning over the cheerful co-operation of those who have not yet completely adjusted their lives to the Islamic system, providing ransom for prisoners of war, helping those in debt, providing comfort and convenience for travellers, supplying capital where talent is available but funds are lacking, providing stipends for scholars and research workers, meeting the expenses involved in collecting and administering the Zakat , and