Frequently Asked Questions
Some useful information regarding Zakat.
To start with Zakat is on certain type of wealth owned for ONE lunar year. Nisab is the minimum amount of wealth, on which Zakat is payable. The following table indicates Nisab for diffeent types of wealth.
| Type of wealth | Nisab |
| Gold | 20 Misqals (approx. 87.48grams) |
| Silver | 200 Dirhams (approx. 612.36grams) |
| Money (including, deposits, debt receivables, etc...) | value of 200 Dirhams of Silver |
| Trade goods | value of 200 Dirhams of Silver (payable in money only) |
| Food crops | 5 Wasqs (approx. 900litres or 630Kgs) |
| Livestock | 5 heads of camel, 30 heads of cattle or 40 heads of goat |
| Gold or Silver mined or from treasures | Nisab of Gold or Silver as relevant |
therefore amount as Nisab is owned for one lunar year, Zakat becomes obligatory.
- Payment date is one lunar year from the ownership of 612.36 grams of Silver or its cash equivalent.
- Rate is 2.5%
- Zakat is due on money receivable but liabilities like loans etc. are NOT DEDUCTIBLE
- Precious stones, pearls are not included; jewellery kept for woman’s use is also NOT included UNLESS they are unusually large and heavy. . .
- Trade goods and company shares intended for resale, on reaching Nisab and kept for one year should be counted and paid at 2.5% in money only.