Zakat Calculator
Fatawa
For Money
Zakat on cash becomes obligatory when the amount of cash, whether held in bank or on hand fulfills Nisab. It also includes money held in retirement and pension accounts. The percentage of Nisab that is payable as Zakat is a quarter of one-tenth (2.5%) of the total money of his/her ownership after one lunar year.
Financial accounts shall mean the activity of the economic unit within a specified period of time (profit or loss) and the sources of funds of the economic unit from where it was acquired and the uses of such funds at the end of such designated period. Know the net cash flows of the economic unit over the same period of time.
The creditor of the party entitled to the amount paid by the other party (the debtor). A creditor may be a person, institution, company or government. A creditor is a person or institution that owns money
Is the account that the buyer pays to the seller (the creditor) for services or goods purchased. If the maturity date is paid, this debt is called (good debt)
Current Nisab Value
6535.19 USD
Most common questions
- Does the “in the Cause of Allaah” category include paying Zakah for the purpose of Da‘wah?
- Rich mother giving her Zakah to poor married son
- How do Muslim organizations use Zakah to help Muslims?
- Zakat on a long dormant bank account
- In debt, supports her family, wants to pay Zakah
- Zakah on piece of land for children
