What is the ruling on paying zakah, and calculating it based on the nisab of silver?
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Question:
Honorable Shaykh, may Allah grant you success. Some people say that it is obligatory to pay zakah based on the nisab of silver and calculate it according to the nisab of silver, even for gold. They claim that this is the definitive position and that it is a matter of scholarly consensus, and that it is in the interest of the poor. This is if the wealth is small; if it is small, it is equivalent to fifty-six riyals of silver.
Answer:
As for when the wealth is large, in billions or millions, it does not need to be calculated. You pay the zakah, which is one-tenth of a tenth, and that is it. This is in excess of the nisab. Yes.
Honorable Shaykh, may Allah grant you success. Some people say that it is obligatory to pay zakah based on the nisab of silver and calculate it according to the nisab of silver, even for gold. They claim that this is the definitive position and that it is a matter of scholarly consensus, and that it is in the interest of the poor. This is if the wealth is small; if it is small, it is equivalent to fifty-six riyals of silver.
Answer:
As for when the wealth is large, in billions or millions, it does not need to be calculated. You pay the zakah, which is one-tenth of a tenth, and that is it. This is in excess of the nisab. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم إخراج الزكاة، وتقديرها على نصاب الفضة؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.