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Zakat or alms-giving is the practice of charitable giving by Muslims based on accumulated wealth, and is obligatory for all who are able to do so. It is considered to be a per â¦ sonal responsibility for Muslims to ease economic hardship for others and eliminate inequality.
In 2016, the largest source of charitable giving came from individuals at $281.86 billion, or 72% of total giving; followed by foundations ($58.28 billion/15%), bequests ($30.36 billion/8%), and corporations ($18.55 billion/5%).1.