Nisab on Gold

Book:

The Book of Zakat - كتاب الزكاة

Chapter:

Thee Nisab and Rates of Zakat

Topic/Issue:2531 - Nisab on Gold
Agreement:They agreed that the quantity of silver on which zakat is levied is five awqiya [ounces], because of the authentic saying of of the Prophet (Gods peace and blessings be upon him), "There is no sadaqa in what is less than five awqiya[ounces] of silver "
An awqiya, in their view, was equal to five dirhams by weight. They agreed that the amount due on this is one - fourth of a tenth. This applies to gold as well, that is, zakat is one- fortieth.
Opinions:
Opinion FromOpinionExplanation
Imam Malik,Imam Shafi,Imam Abu Hanifa,Imam Ahmadzakat is to be levied on twenty dinars by weight as it would be in two hundred dirhams
Others:
al -hasan, al -hasan al -Basri and most of the disciples of DawudThere is nothing to be paid on gold until it reaches an amount of forty dinars, and in that the amount due is one fourth of a tenth one dinar
OthersThere is no zakdt on gold until its market rate equals two hundred dirhams
Disagreement
Reasons:
The reason for their disagreement over the nisab of gold is that nothing has been established about it from the Prophet (God’s peace and blessings be upon him), in the manner of the nisab of silver.
Tags :Worship, Zakah, Gold, Nisab
References:1[pg:295]
Last Updated:2011-02-12

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