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Topic: Nisaab for Zakah
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 Moosaa
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Abul-'Abbaas Moosaa ibn John Richardson
(Jeddah, Saudi Arabia)
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Member
Posts: 1280
Joined: Sep 2002
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WHICH NISAAB SHOULD I USE - GOLD OR SILVER?
If you have silver coins, silver jewelry (*), or other silver merchandise, or paper notes that represent an amount of silver, then your nisaab is the nisaab of silver, at the price of silver on the day your zakaat is due.
If you have gold coins, gold jewelry (*), or other gold merchandise, or paper notes that represent an amount of gold, then your nisaab is the nisaab of gold, at the price of gold on the day your zakaat is due.
If you have other cash, jewelry (*), or merchandise that you can not easily classify based on the above, then use the nisaab of silver, as it is the lower of the two and the safer position. Anyone who has wealth that is between the two nisaabs does not have much money anyway, so paying zakaat on it would not be much at all to pay, and there is nothing like being safe in your religion.
I hope this can be used as a practical guide for anyone needing clarification on the issue of which nisaab to go by for their wealth, and Allaah knows best. May He bless our wealth and give us fiqh in His Religion.
(*) The issue of zakaat on jewelry is one that the scholars have differed over. One should only refrain from paying zakaat on jewelry if it is crystal clear to him that Allaah has exempted jewelry from His general order to pay zakaat on gold and silver. And Allaah knows best.
Moosaa ibn John Richardson
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| dksadiq
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Damilola Sadiq ibn Owodunni
(Lagos, Nigeria || Eastern Province, KSA)
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Posts: 338
Joined: Jul 2007
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This quote from this article on alIfta.org explains that the Silver riyal and the paper riyal are different:
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| It is also permissible to exchange a silver Saudi riyal for three Saudi riyals in paper form, or for more or less value, on the spot because this is considered bartering two different sorts even if they share the name but differ in reality. |
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The it says:
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| Second: It is obligatory to pay Zakah on paper money, if its value reaches the least of the Nisab (the minimum amount on which Zakah is due) of gold or silver, or if it reaches the Nisab when added to other money and commercial commodities possessed by their rightful owners. |
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سبحان الذي لا يشكر إلا بنعمة أخرى
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| dksadiq
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Damilola Sadiq ibn Owodunni
(Lagos, Nigeria || Eastern Province, KSA)
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Member
Posts: 338
Joined: Jul 2007
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assalaamu 'alaikum wa rahmatullaahi wabarakaatuh brother Dawood,
BaarakAllaahu feek & jazaakAllaahu khayraa for your assistance.
After some search on the internet, Saudi in the past apparently used silver coins - during the era of King Abd al-'Aziz. [See the SaudiAramco quote below.]
So, regarding the statement of Shaykh Fawzaan which you quoted, I think the Shaykh intended to say that in terms of the previous Saudi silver riyal used in the era of the 2 Kings which he mentioned, the Zakaat would have been 56 Saudi silver riyal coins. And in this times, the Zakaat would be whatever is equal to that in Saudi Riyal paper notes (which I believe, would not necessarily be 56 SAR i.e. in paper money). And I think that's why he said: "... or that which equals it with paper money" [and Shaykh Uthaimeen as quote in the first post: "... whatever reaches that amount from other forms of paper currency"] without specifying an amount in paper money.
So, if I'm correct, the Nisaab these days would not necessarily be $15 (which equals 56 SAR). And Allaah knows best. I hope you, or another student of knowledge could please research into this and explain further.
On further search, I came across another article on the Saudi Aramco site which says:
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| The silver in each coin, about 10 grams (3/8 of an ounce), |
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[Or, more accurately, 3/8 ounces = 10.6310712 grams (via google)].
So 56 silver riyals (the Nisaab for silver as mentioned by the Shaykh) would be 21 ounces of silver or 595.339986 grams just as brother Shahid quoted for the Nisaab from the book, "The Pillars of Islam and Iman":
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| Paper Money: The value of 85 grams of gold or 595 grams of silver in that currency. |
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Edit: Since the price of silver seems to be changing so frequently, I have removed the estimates I had posted.
Please see here for the current price of silver per ounce: http://silverprice.org/silver-price-per-ounce.html and multiply this value by 21 to get the silver Nisaab insha'Allaah. www.kitco.com also has charts for Gold & Silver and [url=http://www.xe.com/]www.xe.com[/url] can be used to convert between currencies.
Also as a reminder from the alIfta.org site:
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| ... One should only pay Zakah for gold, silver and articles of trade if they reach Nisab (the minimum amount on which Zakah is due) and one lunar year has elapsed after reaching the Nisab. Zakah is due for these things along with their profits after the lapse of one year according to the lunar calendar. A person should also pay Zakah for articles of trade upon the lapse of one year after reaching the Nisab. The price of buying is not to be considered in paying Zakah . The year begins since Nisab is reached whether it was acquired in `Ashura' or any other month of the year. |
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JazaakumAllaahu khayraa.
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From the Saudi Aramco site:
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| In 1925 ... the government did attempt to establish a national currency by issuing its first coin. It was the copper-and-nickel qirsh. Two years later the silver riyal, valued at 22 qirsh, was also issued. The exchange rate of the riyal was established at 10 riyals for each British gold sovereign, the gold coin circulating most widely in the Kingdom at that time. |
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سبحان الذي لا يشكر إلا بنعمة أخرى
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| AbooTasneem
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Aboo Dihyah Dawud Adib
(Philadelphia, PA U.S.A.)
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What you have stated from ash-Shaikh Muhammad ibn Saalih al-Uthaymeen is correct and ash-Shaikh Saalih ibn Fawzaan al-Fawzaan has the same except with this addition:
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| The nisaab regarding silver is one hundred and forty (140) mithqaal and that is two hundred Prophetic dirhams. In Sa'oodee riyaals, the silver that was known during the era of Kings Abdul Azeez and Sa'ood was fifty six (56) riyaals of silver or that which equals it with paper money...this is what is called nisaab [for silver] |
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This SAR 56 equals approx.15 USD (exactly 14.9321) today and it seems to be standard. This was from a the classes conducted by the Shaikh on the explanation of the book 'Etiquettes of Walking to the Salaah' by al-Mujaddid ash-Shaikh Muhammad ibn Abdul Wahhaab and can also be found in the book by the Shaikh (Saalih al-Fawzaan) 'al-Mulakhkhasul Fiqhee' page 342, Kitaabuz Zakaat.
And Allaah knows best.
Dawud Adib the son of David C.White Sr.
وقال شيخ الإسلام ابن تيمية :" الراد على أهل البدع مجاهد"
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| Abu.Hafs.Bilaal
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Abu Hafs Bilaal ibn Charles McClou
(boston, ma USA)
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Posts: 45
Joined: Apr 2003
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Barakallahu fiqum Akhi
It is not the numismatics that I am having a problem with but the nisaab that i should use. The measure of gold or the measure of silver, as the nisaab for each is different in its inherent value when tranferred to US currency. i understand the value of each to the other as well as the differing values of other precious metals. At what dollar amount do I know that I have reached the nisaab and should mark my calendar for the next year and pay the zakat?(according to todays values)
wassalaam abu hafs bilaal ibn charles mccloud
Has not the time yet come for the hearts of those who believe to be affected by Allah's Reminder...
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| shahid393
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Aboo Husaam Shaheed ibn George Williams
(Wichita, KS USA)
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Posts: 297
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according to the us coinage act of 1792, ch. xv, sec. 11:
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SEC. 11. And be it further enacted, That the proportional value of gold to silver in all coins which shall by law be current as money within the United States, shall be as fifteen to one, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen pounds weight of pure silver shall be of equal value in all payments, with one pound weight of pure gold, and so in proportion as to any greater or less quantities of the respective metals.
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i think that in the past it was backed by gold, but i don't know for sure.
aboo husaam shaheed ibn george williams
wichita, ks usa
This message was edited by shahid393 on 9-15-04 @ 9:33 PM
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| shahid393
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Aboo Husaam Shaheed ibn George Williams
(Wichita, KS USA)
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Member
Posts: 297
Joined: Sep 2002
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from the website of norfed (national organization for the repeal of the federal reserve act and the internal revenue code):
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What is the definition of a dollar?
A dollar is a unit of measurement, much like a pound, a foot, or a mile. Specifically, the dollar is a unit of weight. It's defined as 24.75 grains of pure gold or 371.25 grains of pure silver in the U.S. Coinage Act of 1792.
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note: 1 grain = 0.06479891 grams
aboo husaam shaheed ibn george williams
wichita, ks usa
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| Abu.Hafs.Bilaal
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Abu Hafs Bilaal ibn Charles McClou
(boston, ma USA)
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Member
Posts: 45
Joined: Apr 2003
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wa alaikum salaam
Jazakallahu khairan. What I need is just a little more information. According to the link you gave me, the currency information detailed:
Gold at $406 per troy oz.
Silver at $6.27 per troy oz.
~the nisaab in gold being 2.74 oz valued at $1112.44
~the nisaab in silver being 19.2 oz valued at $120.38
because we mostly use currency in the US, is the nisaab based on the amount of Gold ($1112.44) or the amount of Silver ($120.38)
This is important because if the value of Silver is used many more of the poorer Muslims will have had the nisaab for the required one year and can pay the zakat, while many of the poorer Muslims do not have the Gold standard nisaab of $1112.44 for the required time period.
Abu Hafs Bilaal ibn Charles McCloud
Has not the time yet come for the hearts of those who believe to be affected by Allah's Reminder...
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| shahid393
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Aboo Husaam Shaheed ibn George Williams
(Wichita, KS USA)
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Member
Posts: 297
Joined: Sep 2002
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| shahid393
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Aboo Husaam Shaheed ibn George Williams
(Wichita, KS USA)
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Member
Posts: 297
Joined: Sep 2002
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as-salaamu 'alaykum wa rahmatullaahi wa barakaatuh,
in the book, the pillars of islam and iman, it says:
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Paper Money: The value of 85 grams of gold or 595 grams of silver in that currency.
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you may also check the markets and see what price in dollars gold/silver closed at.
aboo husaam shaheed ibn george williams
wichita, ks usa
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| Abu.Hafs.Bilaal
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Abu Hafs Bilaal ibn Charles McClou
(boston, ma USA)
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Member
Posts: 45
Joined: Apr 2003
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i forgot to add the text that was referenced:
AUTHOR: Imaam Muhammad bin Saalih Al-'Uthaimeen
SOURCE: Lessons on Fasting, Taraaweeh and Zakaat
PRODUCED BY: Al-Ibaanah.com
page:20
Abu Hafs Bilaal ibn Charles McCloud
Has not the time yet come for the hearts of those who believe to be affected by Allah's Reminder...
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| Abu.Hafs.Bilaal
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Abu Hafs Bilaal ibn Charles McClou
(boston, ma USA)
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Member
Posts: 45
Joined: Apr 2003
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bismillah walhamdulillah wa Salaatu wa Salaam ala Rasoolullah
As salaamu alaikum wa Rahmatullahi wa barakatuh
Could some of the students of knowledge ask the mashaikh to explain what is the nisab for zakat in America (using American dollars).
I was reading the e-book by Sheikh Uthaimeen (rahmatullahi alai)and in explaining that upon which Zakah id due, he states:
"1. Gold and Silver on the condition that they meet the nisaab(minimum requirement). With regard to Gold it is 11 3/7 Saudi pounds, and for Silver it is 56 Saudi Riyals worth of silver or whatever reaches that amount from other forms of paper currency."
Questions:
a. What is the American value of a Saudi pound? a Saudi Riyal?
b. are either of the 2 standards of measurement used (ie. Gold or Silver)or must one use a specific measure based on his residence.
May Allah reward you
Abu Hafs Bilaal ibn Charles McCloud
Has not the time yet come for the hearts of those who believe to be affected by Allah's Reminder...
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21-01-2010 @ 2:34 PM
14-09-2004 @ 4:32 PM