Fatwa #3491017 January 2016United States of America
Zakat on Gold
Question
Salam; please let us know how much zakat should we pay for total of 93 grams of gold;FYI. thats all the gold that we have!.... we understand that zakat starts from 87.4 grams of gold. Is that information accurate? Does that mean that we just need to pay zakat for 5.6 grams of gold (93- 87.4= 5.6 grams).? Please let us know. ZJK
Mainul K
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh
The Nisaab of Zakaat for gold is 20 Mithqals or 87.479 grams. The Nisaab of silver is 200 Dirhams or 612.36 grams.
You state that you have 93 grams of gold. You will be obligated to pay Zakat of 2.5% on the full 93 grams of gold.
And Allah Ta’āla Knows Best
Ismail Desai,
Darul Iftaa