The Prophet (SAW) has exhorted us to fast during certain days: six days of Shawwal, the Day of Arafah, the day of Ashura, most of the month of Sha’ban, Monday and Thursday, three days of every month, and the fasting of Prophet Dawud.
Among other blessings, fasting brings enormous economic benefits to the Muslim community. During the month of Ramadhan, the rich people very generously on the poor to win the pleasure of Allah. Their generosity and charity enable the poor section of the community to receive sufficient funds during this month to meet their needs for at least a part of the year.
Fasting has immense spiritual value for it is basically a spiritual exercise and discipline. It brings man closer to Allah and removes all barriers between him and his Lord: “O you who believe! Fasting is prescribed to you - so that you may fear Allah.” (Al-Baqarah: 183)