The Nisab of Gold and Silver
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The second question of Fatwa No. ( 1881 )
Q2: What is the nisab (minimum threshold for zakah) for Turkish banknotes, and is it better to estimate the value of the banknotes in gold or in silver? What is the difference between the two?
A2: The nisab for gold is twenty mithqals, and twenty mithqals equal eleven Saudi pounds and three-sevenths of a pound. The nisab for silver is one hundred and forty mithqals, which is two hundred dirhams of the dirhams that existed in the time of the Prophet (peace and blessings be upon him), and this equals fifty-six Saudi silver riyals. If a Muslim possesses an amount of the aforementioned Turkish currency that equals the nisab of gold or silver, and a lunar year has passed over it, then zakah becomes obligatory on it, and one must pay out one-quarter of a tenth. If the amount of the aforementioned currency reaches both the nisab of gold and the nisab of silver, it is estimated by whichever is more beneficial for the poor, as that is more advantageous for them. However, if it reaches the amount of the nisab of one of them but not the other, it must be estimated by the one it has reached. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q2: What is the nisab (minimum threshold for zakah) for Turkish banknotes, and is it better to estimate the value of the banknotes in gold or in silver? What is the difference between the two?
A2: The nisab for gold is twenty mithqals, and twenty mithqals equal eleven Saudi pounds and three-sevenths of a pound. The nisab for silver is one hundred and forty mithqals, which is two hundred dirhams of the dirhams that existed in the time of the Prophet (peace and blessings be upon him), and this equals fifty-six Saudi silver riyals. If a Muslim possesses an amount of the aforementioned Turkish currency that equals the nisab of gold or silver, and a lunar year has passed over it, then zakah becomes obligatory on it, and one must pay out one-quarter of a tenth. If the amount of the aforementioned currency reaches both the nisab of gold and the nisab of silver, it is estimated by whichever is more beneficial for the poor, as that is more advantageous for them. However, if it reaches the amount of the nisab of one of them but not the other, it must be estimated by the one it has reached. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.