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Zakaat on cash

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: My question is about nisaab of zakaat on cash only.

I do not have any thing like gold or silver but just some cash. Please tell me on how much cash will I be liable to pay zakat. Will the nisaab of gold apply as cash is an alternate to gold in banks? 

Bismillaah

A: After deducting all debts and liabilities, on your zakaat date, if your wealth reaches the nisaab amount or is more than the nisaab amount, then zakaat is compulsory upon you.

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

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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