Zakat Exemption

/zəˈkɑːt ɪɡˈzɛmpʃən/noun

A formal declaration, common in Pakistan, that exempts a bank account or asset from automatic annual Zakat deduction.

(Pakistan, Islamic finance) An affidavit or declaration filed to exclude a person's savings from the compulsory yearly deduction of Zakat.

Urdu

پاکستان میں ایک باضابطہ اعلامیہ جو کسی بینک اکاؤنٹ کو سالانہ زکوٰۃ کی خودکار کٹوتی سے مستثنیٰ قرار دیتا ہے۔

Hindi

पाकिस्तान में एक औपचारिक घोषणा जो किसी बैंक खाते को सालाना ज़कात की स्वचालित कटौती से छूट देती है।

He submitted a zakat exemption form to the bank before the deduction date.

Related words

Practice

Account holders must file a before the deduction date if they don't want Zakat withheld.