2. Who pays Zakat? Every person who is sane, Muslim, an adult (has reached puberty), and has reached the minimum level of wealth (nisab) for a period of one lunar year or more is required to pay Zakat. The nisab - the minimum value of wealth one must possess for Zakat to become payable - is defined as: 85g of gold; 595g silver
Niṣâb is the Arabic word that names the minimum quantity the Prophet, on him be peace, set as a fixed threshold at which a Muslims must pay Zakat from eligible wealth. Different types of assets have different specified thresholds. Literally, niṣâb means “origin” because the right of the poor and Zakat-worthy on one’s wealth begins
The third pillar, Zakāh (or Zakāt), is only a duty for wealthier Muslims whose wealth has reached a minimum “threshold amount” that has been in their possession for a year. Each year, they must pay 2.5% of their accumulated gold, silver and savings to those less fortunate in the community.
Zakat Calculator. Zakah is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to 85 grams of gold, is the minimum amount of wealth one must have before they are liable to pay zakah. As of December 2, 2023, nisab is estimated to be $3,913. This year's Nisab Value is. $3,913.00. Zakat is calculated based on one’s annual income and assets. The minimum amount for those who qualify is 2.5% or 1/40 of a Muslim’s total savings and wealth. To begin calculating our Zakat obligation, one needs to assess their wealth and savings. This includes cash, gold, silver, property, stocks, and any other valuable assets. Zakat is paid on these wealth forms at 2.5 percent of one’s holdings after a year has passed on them. The year, or hawl, begins when one’s eligible wealth reaches its threshold amount, called nisab, which is equivalent to 3 U.S. ounces, or 85 grams, of gold. jcM3mOC. 193 233 41 466 435 375 3 438 175

minimum amount for zakat