Muslims are required to pay Zakat once a year. Zakat is a form of alms-giving and is one of the Five Pillars of Islam. It is a mandatory act of charity for all Muslims who meet the criteria of wealth, and it is calculated based on their assets and savings. The purpose of Zakat is to purify one's wealth and to help those in need, such as the poor and needy. The payment of Zakat is seen as a way to balance one's material wealth with spiritual values and to promote social justice.