Ruling about paying zakah

Answered according to Hanafi Fiqh by
I am doing a job and my monthly salary is 10000/-. I have a saving bank account and in my account I have saved about 35000. I do not have any gold and silver I have only cash in bank.

بسم الله الرحمن الرحيم

(Fatwa: 1049/1071/N=10/1437)

Thirty five thousand rupees which you have in your saving account are equal to nisab as their value is not less than the nisab of silver which is 612 gram and 360 milligram. (Silver rate in the market is nearly 45000 per kg around Lucknow which hopefully is similar in other part of India). Hence you are sahib-e-nisab as per the Shariah. Thus zakah is wajib on you.

وسببه أي: سبب اتفراضها ملك نصاب حولي ، ……، تام الخ (الدر المختار مع رد المحتار ، كتاب الزكاة 3: 173، 175، ط: مكتبة زكريا ديوبند)

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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