Is there any standard type of gold based on which Zakah sould be calculated? Because there are many types gold prevalent in the market namely 24 caret, 22, 20, 18, even 10 caret which price differs type to type. |UmmahHelpline
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Is there any standard type of gold based on which Zakah sould be calculated? Because there are many types gold prevalent in the market namely 24 caret, 22, 20, 18, even 10 caret which price differs type to type.

Assalaamu Alaikum, Dear brother/sister, I have question regarding Zakah. Is there any standard type of gold based on which Zakah sould be calculated? Because there are many types gold prevalent in the market namely 24 caret, 22, 20, 18, even 10 caret which price differs type to type. So in case of Zakah calculation, price of which types should I consider for Maal E Nisaab?

Answer:



بسم الله الرحمن الرحيم

We begin with Allah’s blessed name, we praise him and we glorify him, seek his forgiveness and ask him to guide us. Whoever Allah guides, None can lead astray and whoever he misguides, None can guide. There is no power and no strength except from Allah, The most high, the Most great, the most powerful. We bear witness that there is no one worthy of worship but Allah Alone, and we bear witness that Prophet Muhammad (pbuh) is His slave-servant and the seal of His Messengers. We pray for peace and blessings on all the noble messengers and in particular on the last of them all “the blessed prophet Mohammad (pbuh)”

Dear brother, There is no Zakat obligatory on any gold less than 7.5 ‘tolas’ (approximately 85 grams), which is the prescribed nisab. If one has more than nisab in ones possession for full lunar calendar year, then one is liable to pay the obligatory ‘zakat’ of 2.5% on the excess wealth. One can pay Zakah on ones gold by determining their market value, and then pay 2.5% of the total determined amount.

The 24-carat gold is the pure gold, 22-carat gold has 2 portions of another metal, 18-carat gold has 6 portions of another metal, 9-carat gold has 15 portions of another metal, thus Don’t use “an average of 22 carat or other” but rather do each carat amount independently (21 carat, 22 carat, 24 carat, etc…).

It is possible to know the (weigh of) pure gold according to the following equation: pure gold equals (=) the weight of gold that one wants to pay Zakah on, multiplied (x) by the carat, divided (÷) by 24. And Allah alone knows the best.

I ask Allah to make this a sincere effort, seeking his pleasure, and I ask him to grant us refuge in him from the evils within ourselves, and that in our deeds. I ask him to grant us success in achieving whatever pleases him; And May Allah Shower His blessings and mercy upon our beloved Prophet Muhammad (pbuh), his family and his Companions and on all those who follow him until the final hour.

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Category:Zakah

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