Zakat al-Mal, or "Zakat on wealth," is the most commonly discussed form of Zakat. It refers to the annual obligation of 2.5% (1/40) levied on various categories of accumulated wealth — including cash, gold, silver, trade goods, and certain investments — once the wealth meets the Nisab threshold and a full Hawl (lunar year) has passed.
The categories of wealth subject to Zakat al-Mal vary slightly by school of thought, but generally include cash and bank balances, gold and silver (with madhab-specific rules on jewelry), stocks and investments, and business inventory held for trade. Personal items not held for trade — such as a primary residence, personal vehicle, or household goods — are typically excluded from the calculation.
Zakat al-Mal is distinct from Zakat al-Fitr, which is a per-person charity given at the end of Ramadan. While Zakat al-Fitr is a fixed amount per person, Zakat al-Mal is calculated as a percentage of accumulated wealth and applies regardless of the time of year.