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Calculate zakat of gold: purchased or market value? Give zakat to relative in need?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Assalam-O-Alaikum, Mufti saab, please advice how to calculate zakat of gold, is it based on purchased value or prsent market value. Can we give zakat to our close relative who is need of money to pay for his work visa & ticket Jazak Allah Khair

Answer

(Fatwa: 1419/1419=M=1430)

The Zakah will be calculated as per the extant market rate.

(2) You can give Zakah to a close relative if he deserves to receive Zakah. But, you should explain what type of relationship he had with you (as giving Zakah to some relatives is not allowed).

Allah (Subhana Wa Ta’ala) 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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