Fatwa ID: 03551
Answered by: Alimah Nasima Umm Hamza
Question
Assalamu Alaikum
I had some misconceptions regarding zakat which have been cleared. Now I need to calculate my zakat from 2014 and I need urgent guidance on how to pay my zakat. JazakAllah
بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم
In the name of Allah, the Most Gracious, the Most Merciful
Answer:
Zakah is an obligation for every free, sane, mature Muslim when they have owned the value of nisaab and a year has passed.[1] Nisab is 612.36 grams of silver and/or 87.48 grams of gold. The zakah will be paid at a rate of 2.5% of the wealth above nisab.
You will need to calculate the zakat missed over the previous years and then pay that. You need to make the most accurate estimate of your wealth that you can, by referring back to all your incoming money and savings, as well as outgoings such as bills, rent, expenses etc. Please refer to your bank statements and other transactions so that you can make the best possible estimate.
Only Allah knows best
Written by Alimah Nasima Umm Hamza
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
[1] Al Hidayah, Imran Nyazee Version, Volume 1, Page 289