Zakaat

July, 2011

• 2 July

  Zakaat on Gold and Silver

  Q: How will zakaat be paid on gold and silver? Similarly will one take the workmanship in consideration when calculating one’s zakaat on gold and silver jewellery? A: If a person possesses that amount of gold or silver which equals the nisaab i.e. 87,479g of gold or 612,36g of silver, …
• 2 July

  Nisaab amount of Gold and Silver

  Q: What is the nisaab amount of gold and silver? A: If a person possesses gold to the weight of 87,48g or silver to the weight of 612,36g, then zakaat will be fardh. نصاب الذهب عشرون مثقالا والفضة مئتا درهم كل عشرة دراهم وزن سبعة مثاقيل (الدر المختار 2/295) ليس …
• 2 July

  Wealth decreasing before the zakaat date

  Q: What is the mas’alah regarding a person whose wealth decreased before the zakaat date? E.g. Bakr possessed R1, 000, 000 throughout the year. Just before the end of his zakaatable year i.e. 1st of Ramadhaan, he suffered a loss of R900, 000 in his business. Will Bakr now have …
• 2 July

  Receiving wealth before one’s zakaat date

  Q: What is the mas’alah regarding a person who received some wealth prior to the completion of the zakaatable year? E.g. Zaid’s zakaatable year ends on the 1st of Ramadhaan. Few days before the 1st of Ramadhaan, he received a lump sum of R1, 000, 000 in inheritance. Will Zaid …
• 2 July

  Working out one’s zakaat date

  Q: When will zakaat be obligatory and how should one work out one’s zakaat date? A: When a person acquires wealth (upon which zakaat is compulsory) which equals the nisaab and the wealth remains with him for an entire lunar year from the first day he acquires this wealth, zakaat will …
• 2 July

  Zakaat on precious stones besides gold and silver

  Q: Is zakaat compulsory upon platinum, gems, rubies, diamonds, sapphires, etc? A: Zakaat is not compulsory on all precious stones besides gold and silver, unless they were purchased with the intention of resale. (لا زكاة في اللآلىء والجواهر ) وإن ساوت ألفا اتفاقا ( إلا أن يكون التجارة ) والأصل …
• 2 July

  The different types of zakaatable wealth

  Q: Upon which wealth does a person have to pay zakaat? A: Zakaat will be paid on the following: 1. Cash (including the balance of your bank deposits). 2. The market value of the merchandise contained in the share of the company i.e. one will be obligated to discharge the …
• 2 July

  Zakaat on a person who has debts

  Q: Is zakaat compulsory on a person who possesses the nisaab amount but also has unsettled debts? A: The principle of shari’at is that after evaluating one’s zakaatable assets one will deduct his liabilities and debts. If the remaining amount reaches the nisaab, zakaat will be fardh. Examples: Nisaab: R4, …
• 2 July

  The obligation of zakaat

  Q: Upon whom is zakaat compulsory? A: Zakaat is compulsory upon every muslim, baaligh, sane, free person who possesses the nisaab amount for an entire lunar year. وشرط افتراضها عقل وبلوغ وإسلام وحرية … وسببه أي سبب افتراضها ملك نصاب حولى نسبة للحول لحولانه عليه قال العلامة ابن عابدين – …