Zakat FAQs
What is Nisab?
The Nisab is the minimum amount of wealth a Muslim must possess before they become liable to pay Zakat. This amount is often referred to as the Nisab threshold. Gold and silver are the two values used to calculate the Nisab threshold. The Nisab is the value of 87.48 grams of gold or 612.36 grams of silver.
How much is Zakat?
Your Zakat donation should amount to 2.5% of your total zakatable wealth. Therefore, if your total assets (after any debts owed) amounted to $10,000, you would pay $250.
What is the difference between Zakat and sadaqah?
Sadaqah is the term used to indicate voluntary charitable giving, while Zakat is obligatory. There are eight categories of people who are eligible to receive Zakat. The poor, the needy, the administrators of Zakat, those whose hearts have been recently reconciled, those who have been enslaved, those in debt in the cause of God, Travelers (including refugees).
Who is eligible to receive Zakat?
A poor person is someone whose property, in excess of his basic requirements, does not reach the nisab threshold. The recipient must not belong to your immediate family, therefore; your spouse, children, parents and grandparents cannot receive your zakat. Other relatives, however, can receive your zakat.
What is the difference between Zakat and Zakat al-Fitr?
Zakat al-Mal (commonly called “Zakat“) is due when a person’s wealth reaches the nisab amount and can be paid anytime during the year. Zakat al-Fitr is paid by the head of the household for each member of the family, before Eid al-Fitr prayer. Zakat al-Fitr is about the price of one meal—estimated to be $15.