Gold and Silver Zakat: Ali Gomaa Explains the Nisab and Conditions
Former Grand Mufti Ali Gomaa clarifies the nisab (minimum amount) for zakat on gold and silver, its conditions, and the calculation method to determine the annual zakat due.
Dr. Ali Gomaa, former Grand Mufti of Egypt and member of Al-Azhar Senior Scholars, explained the nisab for zakat on gold and silver. He emphasized that the obligation of zakat on these assets is established in the Qur’an:
﴿Those who hoard gold and silver and do not spend it in the way of Allah, give them tidings of a painful punishment﴾ [At-Tawbah: 34].
Five conditions for zakat:
-
Islam.
-
Full ownership.
-
Complete possession.
-
Reaching the nisab.
-
Completion of one lunar year on the wealth.
Gold nisab: 20 mithqals of Mecca weight, approximately 85 grams, with a zakat rate of 2.5% yearly, about 2.125 grams of gold.
Silver nisab: 200 dirhams, about 595 grams, with 2.5% zakat on amounts above the nisab.
Dr. Gomaa noted that current zakat calculations are based on the value of wealth in gold, and 2.5% should be given annually if all conditions are met.
He also clarified that adulterated gold or silver and permissible jewelry do not require zakat, while prohibited jewelry like men’s bracelets and anklets does if it reaches the nisab.
For more details and latest news, follow Misr Connect website
Learn the supplication for fulfilling needs, including prophetic duas, the prayer of need, and key conditions for answered prayers like sincerity, certainty, and timing.
A statement confirms that Dr. Ahmed Maabed Abdel Karim, member of Al-Azhar’s Council of Senior Scholars, is in good health and currently resting under medical advice.
Dar Al-Ifta explains that installment sales with a known price increase are permissible and differ from riba due to the presence of goods and a fixed agreed price
Learn about the Days of Tashreeq in Dhul-Hijjah, their Islamic rulings, pilgrim rituals like stoning the Jamarat, and the prohibition of fasting during them.
