Gold Rate For Zakat Uk

The nisab was set by the prophet muhammad peace be upon him at a rate equivalent to.

Gold rate for zakat uk. Use our zakat calculator to work out how much zakat you owe on gold. In order to qualify to pay zakat you must first meet the mimimum zakat nisab threshold. Almost all of the work that we do at muslim hands is eligible for zakat.

For example if you own 50 grams of gold jewellery you would owe 54 50 zakat 50 grams x 1 09. So anyone who has 1 749 or more in savings will have to pay 2 5 zakat on that minimum zakat will be 43 73. That means that the zakat on gold which you need to pay is.

Gold 3303 99 silver 244 09. Zakat must be paid on 2 5 of the value of the gold that you own. 87 48 grams of gold and 612 36 grams of silver.

Our zakat calculator works out your payment based on both the values for gold and for silver. In today s day and age we do not use silver or gold as a monetary exchange so when calculating your zakat you need to find out the equivalent of the rates the prophet peace be upon him set but in your local. You can also use our free zakat calculator for gold to work out how much money you need to pay for your zakat on gold.

80p per gram 9 34 per tola bori. The nisab on gold is 87 48 grams or 3 ounces so if you own less than that you may not need to pay zakat on gold. For example if the price of gold is 20 a gram the nisaab 20 x 87 48 on which zakat is due is 1 749.

Your expendable wealth should be at least the value of 87 48 grams of gold or 612 36 grams of silver and your wealth should have remained above the nisab value for one islamic lunar year referred to as hawl. Zakat on gold charity. Simply select the option you would like to use.