#513: The Percentage (Nisāb) for Zakāt and its Equivalent
QUESTION
“Please aw much is nisaab for zakaat?
And what is d percentage given our as zakat money?”
ANSWER
Alhamdulillāh.
Firstly, you should know that paper money as currency was not known in the time of the Rasūl – salallāhu alayhi wasallam.
For this reason, the Ulamā equate paper money to its equivalent of silver and gold.
They, may Allāh be merciful to them, then differed on which is the best of either gold or silver as an equivalent.
Most Maliki and Hanafi jurist consults hold that it should be equated with the gold measure.
This is the opinion upheld by the Maliki champion of Morocco today: our Shaykh, Hassan ban Ali Al-Kattaani -Hafidhahullaah-
The Shaafi’i and Hanbali scholars held that it is better and more merciful to the giver to use the gold measure.
This is the Saudi and Egyptian verdicts.
And apparently, that is the methodology adopted by the Nigerian NSCIA supported Zakat and Sadaqah Foundation (ZSF).
The Nisaab for gold is 3 ounces or its cash equivalent either way. This is approximately 87.48g according to the hanafis.
And to the majority, it is 84.7grammes, that is (20 mithqaal × 4.235 ).
That’s because there is difference of whether to use 21 carat or 22 carats.
The Nisaab for Silver is 21 ounces which is 612.36 grams or 625g to the Hanafis and 592.9g (200 mithqal × 2.965 per dirham).
As at 2015, the official zakat nisab adopted by Muslim Nigerian Authorities such as the NSCIA is #680,000.
But current (February 2016) equivalents due to the dwindling Nigerian currency is about #732,664, or thereabout.
But this is yet to be changed by the official bodies to the best of our knowledge.
As for the percentage, For silver, the percentage is 5/200, that’s 1/40 and for gold, it is 1/20.
Therefore, by the Nigerian model, it will be #680,000/20.
And Allāh knows best.
Bārakallāhu Fīkum
Jazākumullāhu Khayran.
📚 IslamNode
