Assalamu Alaikum! I am in possession of 200 valued 100 Prize Bonds and they are with me for almost for the past one year. How much Zakat do I have to pay on them?
الجواب حامدا و مصلیا
The value of the said Prize Bonds according to the price of Silver is equal to the Nisab of Zakat even today. Hence if the questioner is already in possession of the Nisab of Zakat, the Zakat for these bonds too will become obligatory when Zakat becomes obligatory on his other valuables that are counted for Zakat. If he is already not in possession of the Nisab of Zakat then it is incumbent to give the 40th part of the total value of these bonds to Fukaraa and Masaakeen after the completion of one full lunar year from the date of purchase.