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Zakaat Calculated on Weight or Value

Answered as per Hanafi Fiqh by CouncilofUlama.co.za

Q: I’d like to know if i am eligible to pay zakat if I have 55.365g silver and 67.7g of gold? I have a little bit of cash also. Is the zakaat calculation based on value of the jewellery or weight? If zakat is wajib on me kindly explain why.

A: Zakaat could be calculated on the value of the jewellery or weight. Generally we calculate it on weight .Looking at the weight of the gold and silver content of your jewellery it falls slightly short of the nisaab even after combining the two. The nisaab for gold is 87.479g and for silver is 612.35g. The factor that will decide whether you are eligible to pay zakaat is the amount of cash you have.

Council of Ulama
Eastern Cape

This answer was collected from CouncilofUlama.co.za, which is operated under the supervision of Council of Ulama Eastern Cape, South Africa.

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