Nisaab of zakaat

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: If a person has a certain amount of cash only, has he to base his calculation for determining the nisaab based on existing rate of silver or gold? The reason is there is a vast difference in the market rate of a gram of silver and a gram of gold. Please advise. Jazakalkah.

Bismillaah

A: If one possesses zakaatable wealth to the value of 200 Dirhams of silver (i.e. 612,36g of silver), then zakaat is waajib upon him.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

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