NISAAB & ZAKAAH
As Salaamu Alaikum,
QUESTION:
If my cash savings and the value of my gold is not equivalent or more than the gold nisaab I saw listed on the site, does that mean I have to pay zakaah. Both would of course be more than the silver nisaab so I would like to know what I am to do?
Wa Alaikum As Salaam,
ANSWER:
If the value of your cash savings and your gold (when added together) is equivalent or more than your silver nisaab, then you will have to pay Zakaah. If you had gold only, and it did not reach the (gold) nisaab, then Zakaah will not be essential upon you. However, seeing that you also have cash savings along with some gold, the value of the gold will be added to the cash savings and when the value of both reaches the silver nisaab, Zakaah will be essential upon you. (Al Hidaya – Kitab Az Zakaah; Ad Durr Al Mukhtar Ma Ar Radd – Baab Zakaatul Maal – Kitab An Nawazil Vol. 6 pages. 435, 436, 437 Darul Isha’at Karachi 2016)
And Allah Knows best
Mufti Waseem Khan
1/12/2021