Fiqh-us Sunnah Section 41. Monetary Holdings Subject to Zakah

Section : Holdings subject to zakah. Islam enjoined zakah on crops, fruit, livestock, merchandise, minerals, gold, silver, and treasures.

Section : Zakah on Gold and Silver. Says Allah concerning zakah on gold and silver: “…As for those who hoard treasures of gold and silver and do not spend them for the sake of Allah – warn them of grievous…

Section : The Nisab of Gold and Its Due. The minimum of nisab for gold is twenty dinars owned for one year. Its due is a quarter of a tenth, that is, half a dinar. For any amount over twenty…

Section : The Nisab of Silver and its Due. There is no zakah on silver until the amount exceeds two hundred dirhams. The amount payable is a quarter of a tenth for any amount. There is no zakah exemption on…

Section : Combining Gold and Silver. If a person owns gold and silver, but neither of them on its own constitutes a nisab, he should not combine the two in order to obtain a nisab. This is because they are…

Section : Zakah on Debt. Debts are of two kinds: 1. A debt which is acknowledged by the debtor with the willingness to pay it off, and 2. A debt which is not acknowledged either because the borrower is insolvent…

Section : Zakah on Banknotes and bonds. Since they are documents with guaranteed credits, banknotes and bonds are subject to zakah once they attain the minimum of nisab – that is, a person may change them into currency immediately. The…

Section : Zakah on Jewellery. Scholars agree that no zakah has to be paid on diamonds, pearls, sapphires, rubies, corals, chrysolite, or any kind of precious stones unless they are used for trade. There is, however, disagreement over whether women’s…

Section : Zakah on a Woman’s Dowry. Abu Hanifah is of the opinion that there is no zakah on the dowry of a woman until she comes to possess it. At the same time, the dowry must constitute the nisab…

Section : Zakah on House Rent. Abu Hanifah and Malik maintain that the rent is not payable to the landlord at the time of the contract but at the expiry of the renting period. Thus, the landlord who rents out…

Section : Zakah on Trade. The majority of scholars among the companions, the followers, the generation after them, and the jurists who came subsequently held that zakah on merchandise is compulsory. Abu Dawud and alBaihaqi relate that Samurah ibn Jundub…

Section : When Goods can be Judged as Trading Goods. The author of al-Mughm states that: “Merchandise can only be considered as trading goods for two reasons: 1. The actual possession of merchandise is acquired by an act such as…

Section : How is Zakah on Trade Money to be Paid. One who possesses merchandise with a nisab for a year should pay zakah on it, the amount of which is a quarter of a tenth of its value. This…