Fatwa #118514 October 2000Pakistan

In which currency should I pay zakat on the Gold ? The currency in which itwas bought or the currency in which I amearning.

Question

I used to pay Zakat in the month of Ramazan. This time I am in another country for more than a year. Now when I have to pay the Zakat, according to what currency should I pay zakat on the Gold. Do I have to pay in the current currency in which I am getting paid or the currency in which it was bought?

Answer

Zakaat on gold should be calculated according to the currency wherever the
gold is in.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

#14631I go by the mid of Ramadhan as my year end for Zakat purposes. I bought a house on Islamic Finance. I have already paid 10% of the price as a booking deposit. I am expected to pay another 12% by end of December 2006.
#18312Q : i recently got married on feb 20th 2009. my wife brought gold jewellery with her on which her mother used to pay zakat every ramadan since the time they were bought...
#43953Zakat on obsolete currency. Do i pay for it after forgetting about it?
#17114Can you guide me about Zakat? I mean we have to pay Zakat after completion of one year. What are the assets on which we have t o pay Zakat? What is basic rule for the payment of Zakat?
#17883Q : When we bought a set of gold it includes the cost of making of the set and wastage, my question is that do we have to pay zakat for wastage as well?
#23964Zakāt on gold jewellery
#46177Do I consider gold inflation when paying my remaining Zakat?
#15812I have student loans of $9,000, I also own 40 tolas of gold. I am I eligible to pay Zakat?..Qurbani??

Something wrong with this record?

Question

Answer

Related rulings