How much silver (chandi) do I have to own in order for zakat to be farz on me. And how much gold do I have to own in order for zakat to be farz on me. If I give $2000.00 in loan to somebody and expect to receive in two years do i have to pay zakat on it.
If someone does not have any money nor any gold, but only has silver, then if he has at least 52 ½ of silver for at least one-year, then he will have to pay zakat on that amount; this is mandatory. Similarly, if anyone at someone does not have any silver or any dollars, but only has gold, then if he has at least 7 1/2 of gold there will be zakat on that amount. If you give a loan to somebody, no matter if it’s fro one-year or two years, and that person is one upon whom zakat is Fard, then it is mandatory to continue giving zakat. Thus he should also pay zakat on that money which he has given to other people.
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