Assalam u alayekum Syedi Sheikh Hisham and dear scholars!
I have some questions regarding zakat.
1-Is the nisaab of zakaat same in the whole world or it will vary as the price of gold varies. Last year some muftis from Pakistan declared that nisab of zakaat was 38000 pkr but I read on this some months ago the nisab was given in dollars whose equavilent was much more than 38000 pkr.
2- If some person had some amount less than nisab for less than a period year say 10 months, but then he became the owner of additional money such that his amount exceeds nisab now will he have to pay the zakaat after completion of 1 year with respect to initial amount or this total amount?
Shukran ya Syyedi
wa `alaykum salam,
1. Zakat is obligatory when a certain amount of money, called the nisab is reached or exceeded. Zakat is not obligatory if the amount owned is less than this nisab. The nisab (or minimum amount) of gold and golden currency is 20 mithqal, this is approximately 85 grams of pure gold. One mithqal is approximately 4.25 grams. The nisab of silver and silver currency is 200 dirhams, which is approximately 595 grams of pure silver. The nisab of other kinds of money and currency is to be scaled to that of gold, 85 grams of pure gold. This means that the nisab of money is the price of 85 grams of 999-type (pure) gold, on the day in which Zakat is paid. (Current Gold Prices)
2. If the owner had enough money to satisfy the nisab at the beginning of the year, then the money increased (in profits, salaries, inheritance, grants…etc.), the owner needs to add the increase to the nisab amount owned at the beginning of the year; then pay Zakat, 2.5%, of the total at the end of the lunar year. (There are small differences in the fiqh schools here.)
Imam Senad Agic, Ph.D.
Head Imam (IABNA)
The Islamic Association of Bosniaks in North America