{"id":29971,"date":"2024-04-19T11:27:30","date_gmt":"2024-04-19T11:27:30","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/home\/?p=29971"},"modified":"2024-04-19T11:28:02","modified_gmt":"2024-04-19T11:28:02","slug":"nisab-threshold-for-gold-in-zakat","status":"publish","type":"post","link":"https:\/\/daruliftabirmingham.co.uk\/home\/nisab-threshold-for-gold-in-zakat\/","title":{"rendered":"Nisab Threshold for Gold in Zakat"},"content":{"rendered":"

Fatwa ID: 07042<\/strong><\/span><\/p>\n

\u00a0<\/strong><\/span><\/p>\n

Answered by: Mufti Mohammed Dilwar Hussain<\/strong><\/span><\/p>\n

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Question:<\/u><\/strong><\/span><\/p>\n

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If a person in Canada has $5420.20, could he purchase 87.479 grams of gold with it?<\/span><\/p>\n

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If not, then could it be said that he possesses the nisab?<\/span><\/p>\n

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In the name of <\/strong><\/u>All<\/strong><\/u><\/em>\u0101<\/strong><\/u><\/em>h<\/strong><\/u><\/em>, the Most Gracious, the Most Merciful<\/strong><\/u><\/span><\/p>\n

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Answer:<\/strong><\/u><\/span><\/p>\n

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The Nis\u0101b<\/em> is the minimum amount of savings required before the payment of Zakat<\/em> becomes mandatory on a person.<\/span><\/p>\n

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The Nis\u0101b<\/em> equivalent in;<\/span><\/p>\n

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Gold- 20 Dinars<\/em> or 7.5 Tolas<\/em> or 87.48 grams (Approx. \u00a33,432.72)<\/span><\/p>\n

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Silver-200 Dirhams<\/em> 52.5 Tolas<\/em> or 612.36 grams (Approx. \u00a3361.29)<\/span><\/p>\n

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Since the era of the Prophet \ufdfa the price of silver has drastically fallen whereas the price of gold has risen. Hence, the great difference between the current figures for the Nis\u0101b<\/em> of gold and silver. [Radd ul-Muht\u0101r; Vol. 3, pg. 224<\/em>] [1]<\/span><\/p>\n

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The gold price today in Canadian Dollars is $74.91 per gram and silver is priced at 0.89 per gram. [2]<\/span><\/p>\n

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The Nis\u0101b<\/em> according to the price of gold today would be $6,553.13.<\/span><\/p>\n

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The Nis\u0101b<\/em> according to the price of silver today would be $545.<\/span><\/p>\n

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If they choose to calculate their Zakat<\/em> via the price of gold then they would not meet the Nis<\/em>\u0101b<\/em> threshold. However, if they calculate their Zakat<\/em> with the silver equivalent, then they would have wealth which surpasses the Nis\u0101b<\/em> threshold and thus, eligible to pay Zakat<\/em>.<\/span><\/p>\n

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The payment of Zakat<\/em> is compulsory on all those whose wealth which surpasses the Nis\u0101b<\/em> threshold, as the verse above clarifies. It is a great form of worship with an abundance of rewards attached to it. If they are in a position where they have sufficient disposable income then it would be extremely advisable for them to calculate their Zakat<\/em> according to the silver threshold and fulfil this Fardh<\/em> action. However, this is only an advice. Calculating with either the gold or silver equivalents are both valid.<\/span><\/p>\n

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Only All\u0101h Ta\u2019\u0101l\u0101 <\/em>knows best.<\/span><\/p>\n

Written by Mufti Mohammed Dilwar Hussain<\/span><\/p>\n

Checked and approved by Mufti Mohammed Tosir Miah<\/span><\/p>\n

Darul Ifta Birmingham<\/span><\/p>\n

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[1]\u0623\u0644 \u0641\u064a\u0647 \u0644\u0644\u0645\u0639\u0647\u0648\u062f \u0641\u064a \u062d\u062f\u064a\u062b (\u0647\u0627\u062a\u0648\u0627 \u0631\u0628\u0639 \u0639\u0634\u0631 \u0623\u0645\u0648\u0627\u0644\u0643\u0645) \u0641\u0625\u0646 \u0627\u0644\u0645\u0631\u0627\u062f \u0628\u0647 \u063a\u064a\u0631 \u0627\u0644\u0633\u0627\u0626\u0645\u0629\u060c \u0644\u0623\u0646 \u0632\u0643\u0627\u062a\u0647\u0627 \u063a\u064a\u0631 \u0645\u0642\u062f\u0631\u062a\u062f\u0629 \u0628\u0647. (\u0646\u0635\u0627\u0628 \u0627\u0644\u0630\u0647\u0628 \u0639\u0634\u0631\u0648\u0646 \u0645\u062b\u0642\u0627\u0644\u0627 \u0648\u0627\u0644\u0641\u0636\u0629 \u0645\u0627\u0626\u062a\u0627 \u062f\u0631\u0647\u0645 \u0643\u0644 \u0639\u0634\u0631\u0629) \u062f\u0631\u0627\u0647\u0645…<\/span><\/p>\n

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[2] https:\/\/canadagold.ca\/todays-gold-prices-in-canada\/<\/a><\/u><\/span><\/p>\n

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Fatwa ID: 07042 \u00a0 Answered by: Mufti Mohammed Dilwar Hussain   Question:   If a person in Canada has $5420.20, could he purchase 87.479 grams…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/29971"}],"collection":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/comments?post=29971"}],"version-history":[{"count":2,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/29971\/revisions"}],"predecessor-version":[{"id":29990,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/29971\/revisions\/29990"}],"wp:attachment":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/media?parent=29971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/categories?post=29971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/tags?post=29971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}