1. Fasting

The Prophet Muhammed (SAW) said: "Whoever observes fasting during the month of Ramadan with firm belief and hope of reward, his past sins will be forgiven." - Bukhari

Fasting is a shield that protects from disobedience, evil and ultimately Hell.

2. Taraweeh

These are special prayers performed after the Isha prayer and through the night but preferably before the Witr prayer.

The Prophet Muhammed (SAW) said: "Whoever observes the Night prayer in Ramadan with firm belief and hope of reward, his past sins will be forgiven." - Al-Bukhari

3. Charity

Charity is important during the month of Ramadan. The Messenger of Allah was generous during this month. The goal is to give and spend in such a way to attain Allah's favor and pleasure. It doesn't always have to involve money as it could be feeding an orphan, clothing the needy or looking after the old.

“The Prophet was the most generous of all people, and he used to become more generous in Ramadan when Gabriel met him. Gabriel used to meet him every night during Ramadan to revise the Qur'an with him. Allah's Messenger then used to be more generous than the fast wind.” - Al-Bukhari

4. Providing Iftaar for Others

A good deed in Ramadan includes providing the food and drink which other would break their fast with.

"He who provides for the breaking of the fasting of another person earns the same reward as the one who was observing fast without diminishing in any way the reward of the latter." - Tirmidhi

5. Increased Recitation of the Qur'an

The Qur'an was revealed during the month of Ramadan, hence Ramadan has a special connection with the Qur'an. It is also important to remember that angel Jibrael used to meet with Prophet Muhammed (SAW) every night during the month of Ramadan with the Prophet reciting the Qur'an to Jibrael. Muslims strive to read the entire Qur'an during the blessed month, this act should not be limited to the recitation alone but also  the translation and application are encouraged.

It is necessary we connect with the Qur'an, know its meanings and understand that every verse is passing across a message. It is good practice to supplicate to Allah when we come across a verse(s) that mention the Mercy of Allah, good news and the many bounties to believers. Similarly, whenever a verse(s) mentions Allah's wrath, warnings or punishments, then we should seek Allah's protection from it.

"And they fall upon their faces weeping, and the Qur'an increases them in humble submission." - Q17:109

The Prophet Muhammed (SAW) said: “A man who weeps for fear of Allah will not enter Hell until the milk goes back into the udder, and dust produced (when fighting) for the sake of Allah and the smoke of Hell will never coexist.” - Tirmidhi

6. Practice I'tikaf

During the last 10 days of Ramadan, one confines himself to the masjid, leaving worldly affairs while concentrating on worship. The Prophet (SAW) was so punctual with this practice that the one time he missed it, he performed it for another 10 days from the last 10 days of Shawwal (Al-Bukhari).

The Prophet (SAW) used to observe i`tikaf every Ramadan for ten days; in the year in which he passed away, he observed i`tikaf  for twenty days. - Al-Bukhari

7. Seeking out the Night of Majesty

A single night greater than a 1000 months. This night will occur on one of the five odd nights in the last 10 days of Ramadan. No one knows the exact time of its occurrence.

The Prophet (SAW) has encouraged us too seek out this night, he said: "I was informed of the date of the Night of Majesty but I was caused to forget; so search for it in the odd nights of the last 10 nights of the month of Ramadan." - Muslim

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Fasting and the Qur'an will intercede on behalf of Allah's servant on the Day of Judgment:

Fasting will say, "O my Lord! I prevented him from food and desires during the day, so accept my intercession for him." 

And the Qur'an will say, "O my Lord! I prevented him from sleeping by night, so accept my intercession for him." 

The intercession of both will thus be accepted. - Ahmad