The Amount of the Nisab for Paper Currency
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Q: From 'Abd al-'Aziz ibn 'Abd Allah ibn Baz, to the honorable brother / M. A. B. - may Allah keep him safe -. Peace be upon you, and Allah's mercy and blessings. And after:
With reference to your letter to us, in which you ask about the amount of the nisab for paper currency, and the amount of its zakah.
A: Zakah becomes obligatory in it if its value reaches the lower of the two nisabs of gold or silver, or if it completes the nisab together with other currencies and goods prepared for trade, provided that it is owned by its owner at the time it becomes obligatory. The amount of the nisab for the paper currency currently in circulation is what is equivalent to fifty-six Saudi Arabian silver riyals, or twenty mithqals of gold. May Allah guide them all, and peace be upon you, and Allah's mercy and blessings.
The General President of the Departments of Research
Scientific, Ifta, Da'wah, and Guidance
With reference to your letter to us, in which you ask about the amount of the nisab for paper currency, and the amount of its zakah.
A: Zakah becomes obligatory in it if its value reaches the lower of the two nisabs of gold or silver, or if it completes the nisab together with other currencies and goods prepared for trade, provided that it is owned by its owner at the time it becomes obligatory. The amount of the nisab for the paper currency currently in circulation is what is equivalent to fifty-six Saudi Arabian silver riyals, or twenty mithqals of gold. May Allah guide them all, and peace be upon you, and Allah's mercy and blessings.
The General President of the Departments of Research
Scientific, Ifta, Da'wah, and Guidance
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.