When is the zakah on wealth obligatory, and what is the nisab (minimum threshold) at which zakah becomes due?
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Question:
Abu Ahmad from Yemen, our brother, says: I have had a sum of money since I was employed in the year 14 Hijri, which has reached 40,000 Yemeni riyals. In the year 1415, it reached 8,498 Yemeni riyals. Is zakah due on it, and how should the matter be handled? Is it necessary for a full year to pass? Please guide us, may Allah reward you with good, if the riyals have reached the nisab.
Answer:
This is equivalent to 140 mithqals of silver, or its value in paper currency, or equivalent to 200 Islamic dirhams of the dirhams customary in the time of the Prophet (peace and blessings be upon him), or equivalent to their value in paper currency. In that case, zakah is obligatory on it every year, because once twelve months have passed from the time a person took possession of it, zakah becomes due on it. Or if it is profits from dirhams that have completed the hawl (lunar year of possession), the profit follows the principal and is zakatized with it every year. Thus, dirhams are zakatized every year that passes over them, along with their profits, if they have generated profits, by paying out a quarter of a tenth, a quarter of a tenth, two and a half percent of the dirhams. Yes.
Abu Ahmad from Yemen, our brother, says: I have had a sum of money since I was employed in the year 14 Hijri, which has reached 40,000 Yemeni riyals. In the year 1415, it reached 8,498 Yemeni riyals. Is zakah due on it, and how should the matter be handled? Is it necessary for a full year to pass? Please guide us, may Allah reward you with good, if the riyals have reached the nisab.
Answer:
This is equivalent to 140 mithqals of silver, or its value in paper currency, or equivalent to 200 Islamic dirhams of the dirhams customary in the time of the Prophet (peace and blessings be upon him), or equivalent to their value in paper currency. In that case, zakah is obligatory on it every year, because once twelve months have passed from the time a person took possession of it, zakah becomes due on it. Or if it is profits from dirhams that have completed the hawl (lunar year of possession), the profit follows the principal and is zakatized with it every year. Thus, dirhams are zakatized every year that passes over them, along with their profits, if they have generated profits, by paying out a quarter of a tenth, a quarter of a tenth, two and a half percent of the dirhams. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، متى يجب زكاة المال، وما مقدار النصاب الذي تجب فيه الزكاة؟ الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.