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Rate of gold for zakaah calculation

Fatwaa ID: 1544

Question:
Assalamualykum. Mufti saheb.One person resides in UK. He has gold bought in Qatar for use and intends to later sell in Qatar in order to do Hajj. In UK the price of gold is much less than in Qatar. Can he use the UK rate of gold to calculate his zakat or should he check the rate at Qatar for giving his zakah.

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

We take note of the details of your query. Generally, the scrap price of gold is almost exactly the same throughout the world. The difference may be of a few dollars only. Nevertheless, the scrap price of gold in one’s country of residence will be considered when assessing gold value for zakaah calculation.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

01/09/1445 AH – 07/27/2023 CE | AML1-8113

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين

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