Zakaath

Zakaath is the third pillar of Islam. Due to its great importance, it has been coupled with Salaah (prayer) in many places in the Quran. In most places where Muslims are enjoined to perform Salaah, they are also commanded to pay Zakaah. Allaah said (what means): "And perform As-Salaah (prayer), and give Zakaah, and whatever of good (deeds that Allaah loves) you send forth for yourselves before you, you shall find it with Allaah. Certainly, Allaah is All-Seer of what you do."  [Quran 2:110]
Allaah ordered the Muslims to pay Zakaah to the poor. If the rich sincerely paid their Zakaah, they will be obedient to Allaah and would deserve to be rewarded. Yet, if they did not, they would be sinners and deserve punishment in this world as well as in the Hereafter. Allaah enjoined Zakaah on the rich in order to purify their souls from miserliness and to train them to spend their money in the way of Allaah. As well as this, Zakaah purifies the hearts of the poor from harboring feelings such as envy and malice towards the rich. In this way Zakaah strengthens the ties of brotherhood between the Muslims, creates a feeling of mutual love between the poor and the rich, and colors the society with solidarity. Allaah blesses the money of the Zakaah payer in this world and guides him to the best ways to increase and invest it. In addition, Allaah stores for him the best and greatest of rewards in the Hereafter.
Property on which Zakaah is due:
Gold, silver, trade goods, plants, fruit, and cattle including camels, cows, and sheep.
Islam defined eight channels as mentioned in the following verse (which means): "As-Sadaqat (here it means Zakaah) are only for the poor,  and the needy  and those employed to collect (the funds);  and for to attract the hearts of those who have been inclined (towards Islam);  and to free the captives;  and for those in debt;  and for Allaah's Cause (i.e. for Mujahidun - those fighting in Allah cause),  and for the wayfarer (a traveler who is cut off from everything); a duty imposed by Allaah. And Allaah is All-Knower, All-Wise." [Quran 9:60]
The eight channels are: 1.The poor They do not have money and at the same time they do not have the ability to earn their living, or they may have insufficient money that does not fulfill their basic needs.
2.The needy They have better conditions than the poor but they do not have enough money to support their basic needs. 3.Those employed to collect Zakaah They are the employees charged to collect Zakaah, guard and distribute it. 4.To attract the hearts of those who have been inclined towards Islam They are a group of people given – according to the sole discretion of the ruler as he considers beneficial to the Muslim society – a share of Zakaah in order to attract them to embrace Islam or help them adhere to Islam. 5.To free slaves Zakaah is paid in order to free slaves by buying them and releasing them from bondage. This points out that Islam preceded all other systems in eliminating slavery. Nowadays, this share could be used in ransoming prisoners of war. 6.Debtors They are indebted people who do not have enough money to pay their debts. 7.For Allaah's Cause It refers to expenditures on Jihaad, invasions, Mujaahideen, and weaponry. 8.The wayfarer He is a foreign traveler who does not have money.