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Gold & Silver savers, Pay Zakat and Care Poor

Gold & Silver savers, Pay Zakat and Care Poor

 The Zakat of silver and Gold:

Zakaat percent is 2½(2.5%) percent, the nisaab level for gold is 85 or 87 grams(1 dinar = 4.25g, so 20 dinar x 4.25 = 85grams) of gold or 7½(7.5) tola and for silver the Nisaab is 595 grams of silver or 52½(52.5) tola of silver. If you have both or any, in either case, you have to pay zakat of 2.5% of the value of total wealth, you have it for a full lunar year. Since gold and silver are not used as currency in today’s world, it is important to convert the Nisab(Gold or silver) into your local currency based on the current rate of either gold or silver on the day of calculation.

You can find hadith on both silver and gold below, in which our beloved Prophet(Peace be upon him) described the nisab of both silver and gold, there are others things describe as well, but I think now a days we are more concern with silver and gold. So read both hadith and increase your faith and do pay zakat regularly, jazakAllah.

Zakat on Silver & Gold

1) Zakat Nisab Hadith Gold:

Narrated Ali ibn AbuTalib: The Prophet (ﷺ) said: “When you possess two hundred dirhams and one year passes on them, five dirhams are payable. Nothing is incumbent on you, that is, on gold, till it reaches twenty dinars(1 dinar = 4.25g, so 20 dinar x 4.25 = 85grams [1]). When you possess twenty dinars and one year passes on them, half a dinar is payable. Whatever exceeds, that will be reckoned properly.”

(The narrator said: I do not remember whether the words “that will be reckoned properly” were uttered by All himself or he attributed them to the Prophet (ﷺ).

No zakat is payable on property till a year passes on it.

But Jarir said: Ibn Wahb (sub-narrator) added to this tradition from the Prophet (ﷺ): “No zakat is payable on property until a year passes away on it.”

Urdu Text Image:

gold zakat

Arabic Text:

حَدَّثَنَا سُلَيْمَانُ بْنُ دَاوُدَ الْمَهْرِيُّ، أَخْبَرَنَا ابْنُ وَهْبٍ، أَخْبَرَنِي جَرِيرُ بْنُ حَازِمٍ، وَسَمَّى، آخَرَ عَنْ أَبِي إِسْحَاقَ، عَنْ عَاصِمِ بْنِ ضَمْرَةَ، وَالْحَارِثِ الأَعْوَرِ، عَنْ عَلِيٍّ، – رضى الله عنه – عَنِ النَّبِيِّ صلى الله عليه وسلم بِبَعْضِ أَوَّلِ هَذَا الْحَدِيثِ قَالَ ‏”‏ فَإِذَا كَانَتْ لَكَ مِائَتَا دِرْهَمٍ وَحَالَ عَلَيْهَا الْحَوْلُ فَفِيهَا خَمْسَةُ دَرَاهِمَ وَلَيْسَ عَلَيْكَ شَىْءٌ – يَعْنِي فِي الذَّهَبِ – حَتَّى يَكُونَ لَكَ عِشْرُونَ دِينَارًا فَإِذَا كَانَ لَكَ عِشْرُونَ دِينَارًا وَحَالَ عَلَيْهَا الْحَوْلُ فَفِيهَا نِصْفُ دِينَارٍ فَمَا زَادَ فَبِحِسَابِ ذَلِكَ ‏”‏ ‏.‏ قَالَ فَلاَ أَدْرِي أَعَلِيٌّ يَقُولُ فَبِحِسَابِ ذَلِكَ ‏.‏ أَوْ رَفَعَهُ إِلَى النَّبِيِّ صلى الله عليه وسلم ‏”‏ وَلَيْسَ فِي مَالٍ زَكَاةٌ حَتَّى يَحُولَ عَلَيْهِ الْحَوْلُ ‏”‏ ‏.‏ إِلاَّ أَنَّ جَرِيرًا قَالَ ابْنُ وَهْبٍ يَزِيدُ فِي الْحَدِيثِ عَنِ النَّبِيِّ صلى الله عليه وسلم ‏”‏ لَيْسَ فِي مَالٍ زَكَاةٌ حَتَّى يَحُولَ عَلَيْهِ الْحَوْلُ ‏”‏ ‏.‏

Grade : Sahih (Al-Albani) 
Reference : Sunan Abi Dawud 1573
In-book reference : Book 9, Hadith 18
English translation : Book 9, Hadith 1568

1) Zakat Nisab Hadith Silver:

Narrated Abu Sa`id Al-Khudri: Allah’s Messenger (ﷺ) said, “There is no Zakat on less than five camels and also there is no Zakat on less than five Awaq (of silver). (5 Awaq = 22 Fransa Riyals of Yemen or 200 Dirhams. one standard dirham = 2.975, so 200 Dirhams x 2.975 = 595g = 52½ tola [2]) And there is no Zakat on less than five Awsuq. (A special measure of food-grains, and one Wasq equals 60 Sa’s.) (For gold 20, Dinars i.e. equal to 12 Guinea English. No Zakat for less than 12 Guinea (English) of gold or for silver less than 22 Fransa Riyals of Yemen.)

Urdu Text Image:

Arabic Text:

حَدَّثَنَا عَبْدُ اللَّهِ بْنُ يُوسُفَ، أَخْبَرَنَا مَالِكٌ، عَنْ عَمْرِو بْنِ يَحْيَى الْمَازِنِيِّ، عَنْ أَبِيهِ، قَالَ سَمِعْتُ أَبَا سَعِيدٍ الْخُدْرِيَّ، قَالَ قَالَ رَسُولُ اللَّهِ صلى الله عليه وسلم ‏ “‏ لَيْسَ فِيمَا دُونَ خَمْسِ ذَوْدٍ صَدَقَةٌ مِنَ الإِبِلِ، وَلَيْسَ فِيمَا دُونَ خَمْسِ أَوَاقٍ صَدَقَةٌ، وَلَيْسَ فِيمَا دُونَ خَمْسَةِ أَوْسُقٍ صَدَقَةٌ ‏”‏‏.‏

Reference : Sahih al-Bukhari 1447
In-book reference : Book 24, Hadith 50
Web reference : Vol. 2, Book 24, Hadith 526

Other Web Sources:

https://en.wikipedia.org/wiki/Dirham
http://investsilvermalaysia.com/ounce-troy-ounce-grams-dinar-dirham-and-tael/

Questions On Zakat?

Faqs On Zakat: Zakat kae Sawal: Help Poor & Needy

Do we need to Tell?

Kia zakat bata kar dena zaroori hai?

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