Zakāt one of the Five Pillars of Islam

Five Pillars of Islam

The Pillars of Islam are basic concepts and duties for accepting the religion for the Muslims.The Shi'i and Sunni both agree on the essential details for the performance of these acts, but the Shi'a do not refer to them by the same name .-Pillars of Shia:According to Shia Islam, the...

, is the giving of a fixed portion of one's wealth to charity

Charity (practice)

The practice of charity means the voluntary giving of help to those in need who are not related to the giver.- Etymology :The word "charity" entered the English language through the Old French word "charité" which was derived from the Latin "caritas".Originally in Latin the word caritas meant...

, generally to the poor and needy.
Zakat, a practice initiated by Muhammed himself, has played an important role throughout Islamic history. Initially, Muhammed instituted zakat as a voluntary, individual offering, but during his lifetime certain forms of zakat have been declared obligatory. The caliph

Caliph

The Caliph is the head of state in a Caliphate, and the title for the ruler of the Islamic Ummah, an Islamic community ruled by the Shari'ah. It is a transcribed version of the Arabic word   which means "successor" or "representative"...

 Abū Bakr

Abu Bakr

Abu Bakr was a senior companion and the father-in-law of the Islamic prophet Muhammad. He ruled over the Rashidun Caliphate from 632-634 CE when he became the first Muslim Caliph following Muhammad's death...

, believed by Sunni Muslims to be Muhammed's successor, was the first to institute a statutory zakat system.