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

Answered as per Hanafi Fiqh by Askimam.org

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

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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