### How to Calculate Zakat

METHOD FOR CALCULATING NISAAB & ZAKAAT

PAYABLE BASED ON SILVER, FOR WHICH THE

NISAAB STIPULATION IS FIXED AT 52.5 TOLA

One Tola = 11.664 grams 52.5 Tola = 612.36 grams

Take the current local price of silver and multiply it by 612.36 grams,

to get the current standard Nisaab (Threshold for Zakaat).

Example

1. If the current silver price is R7.81 per gram

2. Take R7.81 and multiply it by 612.36 grams = R4782.00

3. Nisaab is thus 4782.00 as per the current rate

4. For example, if you have 4782.00 based on the above example,

then the Zakaat payable will be 4782 x 2.5% = R119.55 (Zakaat

Payable)

5. Alternatively take R4782.00 (i.e. whatever is the amount on which

you need to pay Zakaat based on the rules explained in this book,

and divide it by 40. This will also give you the Zakaat which is

payable.

Important Note: When working out Zakaat on your gold and

silver jewellery etc. The Zakaat payable is not based on current price

of that jewellery, but it is based on the current price of weight of the

gold or silver.

Vol.5 pg.298

298

In other words, if a person has 111 grams of gold. He or she will

multiply it by the current local price of gold for the said carat of gold.

Thereafter he or she will calculate 2.5% of it (i.e. one fortieth) which

will be the Zakaat payable.

Example

1. If the current local gold price of 24 carat gold is R534.00 per gram

2. As per the above example take 111 grams and multiply it R534.00,

which equals R59, 274. This will be the current gold value for the said

weight.

3. Take 2.5% of the value of that gold which is R59, 274 x 2.5% =

R1481.85. So the Zakaat payable on 111 grams of gold will be R1481.85.

4. Alternatively you can divide the value by 40 and it will also give you

the same amount, which in this example is R1481.85 which is the

Zakaat payable on the weight of that gold.

Zakaat is currently worked out based on silver as the silver price per

gram is cheaper than gold currently. If the gold became cheaper than

silver, the Nisaab would be calculate based on gold prices.

Silver Nisaab is as per 52.5 Tola Silver = 612.36Grams (612)

Gold Nisaab is as per 7.5 Tola Gold = 87.48 Grams

I have attempted to present the above mentioned formula to make

calculating Nisaab, and your Zakaat on money, gold and silver etc.

easier. [Sag e Mufti e Azam Muhammad Afthab Cassim Qaadiri Razvi

Noori]

Vol.5 pg.299

299

STRIVE TO