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Zakat / The nisab for cash and calculating the Zakat of gold and silver

The nisab for cash and calculating the Zakat of gold and silver

publish date : 2014-09-07 | Views : 4210
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Dear respected Shaykh, assalamu alaikum wa rahmatullahi wa barakatuh. I hope that you will answer the following questions. The first question: What is the nisab for cash? The second question: How do I calculate the Zakat of gold and silver in current times? نصاب المبالغ النقدية وحساب زكاة الذهب والفضة

Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions. Wa alaikum assalam wa rahmatullahi wa barakatuh. As to what follows: In response to your question, we say:   Answer 1:  According to most scholars the nisab for cash is 56 silver riyals, and the price for each silver riyal ranges from six to seven Saudi riyals. It may be more or less. Answer 2:  Look at the weight of the gold that you have. When the gold reaches 85 grams, or if silver reaches 595 grams, you should calculate its value in cash and give 2.5% of that as Zakat.   Dr. Khalid al-Muslih

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