Nisaab
Question
Fatwa: (#012)
Could you please explain what is Nisaab?
Answer
Muhtaram
السلام عليكم و رحمة الله و بركاته
حامدا و مصليا و مسلما
In the Name of Allah, the Most Gracious, the Most Merciful
We have received your query with regards to Nisaab, our response is as follows:
The amount of wealth which makes one liable for Zakaat is called Nisaab.
If a person possesses 612.35 grams of silver or 87.479 grams of gold or any currency that equals the value of this amount of gold or silver, and this wealth remains in his possession for a complete year, then on the expiry of this year it will be compulsory on him to give Zakaat for it. If his wealth is less than this, Zakaat will not be compulsory. If it is more than this, Zakaat will still be compulsory.
The amount of gold or silver that has been mentioned above is commonly referred to as the Nisaab of gold or silver.
Nisaab of Silver on the 12th Ramadan 1441, corresponding to 06.05.20: $489.88 (1 gram= $0.80)
Nisaab of Gold on the 12th Ramadan 1441, corresponding to 06.05.20: $7,927.34 (1 gram = $90.62)
The lessor of the above two amounts will be considered i.e. $489.88
And Allah Ta’ala knows best
Muhammad Irshad Motara
12th Ramadan 1441
6th May 2020
في عروض تجارة بلغت قيمتها نصابا من أحدهما نقوم بما هو انفع للفقراء: يعني نقوم بما يبلغ نصابا إن كان يبلغ بأحدهما دون الآخر احتياطا في حق الفقراء
الخ(مجمع الأنهر ج۱ ص۳۰۷: ِشامي ج۳ص۲۲۹)
