Zakah for gold
Pillars of Islam
Asked on 5th March 2023
Question
Assalamu Alaikum wa Rahmatullahi wa Barakathuhu shaikh
Would like to know the nisab level.
I have the same about of gold with me for years and paying zakah every year. After paying for example 10 yrs; will there be any calculation required or any change in the value of the amount.
Or is it that I have to pay the same amount be it 10 years or 20 yrs.
Answer
Wa'alaykumsalaam wa rahmatullah
The Gold's value changes and it should be paid as per the value of each year.
Sheikh Ibn Uthaimeen was asked the same question and he answered as
He replied: Zakaah on jewellery must be paid each year and cannot be based on the purchase price, rather it must be based on the price when the full year has passed. If a woman buys gold for ten thousand riyals, and when the year has passed it is only worth five thousand riyals, then she should only pay zakaah on five thousand riyals. The converse is also true: if she buys gold for five thousand riyals then when the year has passed it is now worth ten thousand riyals, then she should pay zakaah on ten thousand riyals, because that is the time when zakaah becomes obligatory.
And Allaah is the Source of strength.
The Gold's value changes and it should be paid as per the value of each year.
Sheikh Ibn Uthaimeen was asked the same question and he answered as
He replied: Zakaah on jewellery must be paid each year and cannot be based on the purchase price, rather it must be based on the price when the full year has passed. If a woman buys gold for ten thousand riyals, and when the year has passed it is only worth five thousand riyals, then she should only pay zakaah on five thousand riyals. The converse is also true: if she buys gold for five thousand riyals then when the year has passed it is now worth ten thousand riyals, then she should pay zakaah on ten thousand riyals, because that is the time when zakaah becomes obligatory.
And Allaah is the Source of strength.