Fatwa #1322130 July 2005Canada

How do you calculate the Nisab for Zakat, do we have to use Gold Prices or Silver?

Question

How do you calculate the Nisab for Zakat, do we have to use Gold Prices or Silver? Can you give me the Gold Nisab in Ounces...

Jazakallah,

Answer

For the calculation of Nisaab for Zakaat, the gold or silver standard may be used. The Nisaab for Zakaat is 2.8125 troy ounces in gold or 19.6875 troy ounces in silver.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

#30058Is Zakat based on assets or income and is Zakat due if the combined value of gold and silver reaches nisab?
#15954When calculating zakat, the weight of gold and silver will be taken into consideration
#19019Can we give Zakat on gold ,even that we are having it a period of less than 4 months ? Or else can we calculate it like total Zakat/3 ....please correct us if we are wrong?
#21128Valuing gold for Zakat calculation - Average price or Period end price
#14622Say the nisab of zakat is $1000, and My wife has gold (which she doesn't wear) equal to $500 (throughout the year). She also have some land inheritade from her father, which has not been distributed yet and therefore it's not clear how many meters is her part.
#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?
#16800My question is about how to calculate the zakat for earning and savings in the bank?how much money should i have had received before i am entitled to pay zakat for both
#47315Nisab of Silver in cash

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