The nisab of zakah in paper currency
Machine translationRead the Arabic original
A man has five hundred Saudi riyals, and a lunar year has passed over them. Is there zakah on them? And what is the amount of the nisab in this currency?The Shaykh: Five hundred riyals of paper, or of silver?The questioner: Of paper.
It must be looked into whether they are worth sixty-five riyals in silver or not.
Meaning: If they are worth that amount, then there is zakah on them.
And if they are not worth that amount, then they are below the nisab, so there is no zakah on them.
For example, if we said: There are sixty-five riyals in silver, and the riyal is ten paper notes, so what will the nisab be? It will be fifty or sixty.
Therefore: Fifty does not have zakah on it.
So you ask the people of the banks and say to them: What is the value of the silver riyal? And on this basis, it is established whether the nisab has been reached or not.
Do you understand now? So you must ask the money changers about five hundred riyals in paper: how much is it worth in silver?If they said: If it is worth sixty-five, then there is zakah on it.
And if they say: If it is not worth more than fifty, then there is no zakah on it.
It must be looked into whether they are worth sixty-five riyals in silver or not.
Meaning: If they are worth that amount, then there is zakah on them.
And if they are not worth that amount, then they are below the nisab, so there is no zakah on them.
For example, if we said: There are sixty-five riyals in silver, and the riyal is ten paper notes, so what will the nisab be? It will be fifty or sixty.
Therefore: Fifty does not have zakah on it.
So you ask the people of the banks and say to them: What is the value of the silver riyal? And on this basis, it is established whether the nisab has been reached or not.
Do you understand now? So you must ask the money changers about five hundred riyals in paper: how much is it worth in silver?If they said: If it is worth sixty-five, then there is zakah on it.
And if they say: If it is not worth more than fifty, then there is no zakah on it.