Fatwa #100102 November 2003Pakistan

Should we pay zakaat on the basis of silver or gold ?

Question

The price of silver is very low as compared to the price of gold in our country. Should we pay zakaat on the basis of silver or on the basis of Gold ?

Answer

Zakaat Nisaab should be calculated on the basis of the current price of silver irrespective of the relatively low price of silver.

and Allah Ta'ala Knows Best

Mufti Muhammad Kadwa
FATWA DEPT

#2449I will be grateful if you let me know how to pay Zakaat on gold jewellery on overseas price of jewellery. Please explain the difference between LILLAH, SADQAH and NAZAR.
#193991. Is zakaat payable on goods and money having had the goods and money for 1 whole year ? 2. Is it on the purchase price or the sale price? 3. Can we discharge Zakat on daily basis?
#7486i took a loan of 200000, i pay 32000 every year(including interest). my annual saving is 50000.then what will be the Zakaat.
#8324With jewellery, is zakaat calculated on gold only? What about diamonds, silver and other precious metals/stones?
#1790I have gold and silver jewellery to the value of R12,000 and a liability of R28,000. Do I have to pay Zakaat on the gold and silver jewellery?
#1628Do I have to pay Zakaat on the gold and silver jewellery?
#21953I'm running business from home. Do I pay my Zakaat on cost price or selling price?
#32551Is zakat payable on sterling silver? How do you find out the value of the sterling silver? How do you pay zakaat on bonds?

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