Word: zakat
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Dates: during 1979-1979
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Tithing is one of the five pillars of the Muslim faith. In several Islamic states, an annual tax of 2.5%, called the zakat, is levied against an individual's assets for the benefit of the community. The principle of wealth-sharing extends to governments as well. Saudi Arabia distributes about 7% of its evergrowing G.N.P. (estimated at $66 billion in 1978) to less privileged Muslim states in the form of low-cost loans and gifts. By comparison, U.S. foreign aid last year amounted to only one-third of 1% of G.N.P. Mahbub Haq, an economist with the World Bank, foresees...
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