Fatwaa ID: 308
Assalamualaikum, I have a few questions about zakat
- Does the hanafi madhab say anything about whether to follow the gold or silver nisaab?
- Should I weigh all of my gold jewelry that I wear on a daily basis and calculate that with the rest of my money? What about gold plated jewelry?
What about a piece of jewelry that I’ve lost inside the house so I can’t weigh it?
- At what point do i start paying zakat? Is it when I’ve reached the nisaab or when I’ve had the nisaab for a year?
- Do I have to give zakat on the same day every year?
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
- The nisaab threshold which is most beneficial for the poor and needy should be adopted. The silver nisaab is most beneficial for them. If this is adopted, then more people will give zakaah. This should be used for zakaah liability.
2a. All gold and silver that one owns will have to be added to the total zakaah calculation. This is irrespective of whether this is worn on a daily basis or not.
2b. The gold content in gold plated jewelry is subject to zakaah. This is a minimal amount.
2c. As long as you know it is in the house and you have hope of finding it, it will be subject to zakaah. You may make an estimate for its weight or value.
- The first time you reach nisaab in zakaatable assets, that date is your zakaah date. The following year on that exact date and every year thereafter, you will assess your zakaatable wealth and pay zakaah on the total if the total reaches the nisaab. It should be noted that this date should be in accordance to the Hijri date.
- You will assess your wealth on the same date every year. This date will not change unless one’s wealth reaches a flat zero. In such a case, the zakaah date will reset to the date when one’s zakaatable wealth reaches nisaab again. It is important that one notes and documents this date precisely. This is even more important nowadays in our current financial market.
And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
06/14/1444 AH – 01/07/2023 CE | AML1-6797
وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين
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