The minimum amount of gold and silver liable for paying out Zakat

A service about the minimum amount of gold and silver liable for paying out Zakat offered by Gold Price Today website with the latest updated gold prices

Quorum Zakat depending on the price of gold and silver

Please see the definitions and the method of calculation at the bottom

Country Gold Quorum Silver Quorum
Saudi (Saudi Riyal) 11886.47 1333.79
Egypt (Egyptian Pound) 56902.64 6385.11
Emirates (Emirates Dirham) 11642.06 1306.37
Kuwait (Kuwaiti Dinar) 965.28 108.32
Bahrain (Bahraini Dinar) 1193.53 133.93
Qatar (Qatari Riyal) 11542.20 1295.16
Oman (Omani Rial) 1218.89 136.77
Yemen (Yemeni Rial) 792357.40 88911.34
Iraq (Iraqi Dinar) 3743845.13 420101.20
Syria (Syrian Pound) 1632519.36 183186.89
Lebanon (Lebanese Pound) 4778553.89 536207.07
Jordan (Jordanian Dinar) 2242.19 251.60
Palestine (Shekel) 12120.74 1360.08
Algeria (Algerian Dinar) 350945.06 39379.95
Morocco (Moroccan Dirham) 32041.10 3595.37
Libya (Libyan Dinar) 4490.71 503.91
Tunisia (Tunisian Dinar) 7339.65 823.59
Mauritania (Mauritanian Ouguiya) 1122202.52 125923.65
Sudan (Sudanese Pound) 20540.43 2304.87
Djibouti (Djiboutian Franc) 563003.30 63175.25

The minimum amount liable for paying out Zakat (the Nissab) Q&A

What is the minimum amount liable for paying out Zakat (the Nissab)?

The Nissab in Islam is the minimum amount liable for paying out Zakat. It differs according to the different types of money; the minimum amount of gold is 85 grams from pure gold carat 24
Or 97.14 grams of gold carat 21
Or 113.33 grams of gold carat 18
However, the minimum amount of silver is 595 grams of silver carat 99.9

Should one pay out Zakat on banknotes?

Today, banknotes like Riyal, Pound, Dirham and other currencies that stand in place of gold and silver are undoubtedly Zakat based because the substitute has the rule of the substituted.

Is the minimum amount liable for paying out Zakat (the Nissab) on banknotes based on the Nissab of gold or the Nissab of silver?

Religious scholars differ in their valuation of banknotes; should they be paid by the Nissab of gold or the Nissab of silver?
Some said: it should be estimated according to the Nissab of gold
And their justification: because gold has almost always a fixed value

Other said: it should be estimated according to the Nissab of silver
Their justification: because the Nissab of silver is generally agreed upon and fixed in the Sunnah. Thus, whoever has money wanting to know whether the minimum amount (the Nissab) is reached or not, one has to see how much one gram of silver costs today.

How to calculate the minimum amount of money based on the value of gold and silver?

The Nissab of gold by the local currency = the price of one gram of gold carat 24 X 85

The Nissab of silver by the local currency = the price of one gram of silver carat 99.9 X 595

Why does the website present the minimum amount liable for paying out the Zakat?

The website is dedicated to show the gold price updated around the clock and the various Arab currencies like Riyal, Pound, Dinar, and Dirham… and due to the change in the price of gold fluctuating up and down daily, we have made it a commitment to calculate the minimum amount (the Nissab) that is due according to the latest price of gold or silver.
10/12/2016 06:30:55 م