Zakat on Gold
Machine translationRead the Arabic original
The first question of Fatwa No. ( 2543 )
Q1: I have a commercial shop for selling gold, and my method for paying its zakah is to calculate the total weight of the gold and pay its zakah at a rate of 2.5% of its value in Saudi Riyals annually. The inquiry is: Do I pay the zakah for the year in which the weighing took place, or the zakah for the weight in the preceding year? Please inform us, may Allah have mercy on you.
A1: You pay the zakah on gold based on its weight at the time of paying the zakah upon the completion of each lunar year. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q1: I have a commercial shop for selling gold, and my method for paying its zakah is to calculate the total weight of the gold and pay its zakah at a rate of 2.5% of its value in Saudi Riyals annually. The inquiry is: Do I pay the zakah for the year in which the weighing took place, or the zakah for the weight in the preceding year? Please inform us, may Allah have mercy on you.
A1: You pay the zakah on gold based on its weight at the time of paying the zakah upon the completion of each lunar year. 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.