سُبْحَانَ ٱللَّٰهِ
Holy Qur'an
Al-Qur'an
Kids Qur'an
Holdings subject to zakah
Islam enjoined zakah on crops, fruit, livestock, merchandise, minerals, gold, silver, and treasures.
Zakah on Gold and Silver: Its Obligation
Says Allah concerning zakah on gold and silver: "... As for those who hoard treasures of gold and silver and do not spend them for the sake of Allah--warn them of grievous suffering [in the life to come]" [at-Taubah 34].
Thus, zakah is prescribed for gold and silver--whether they are in the form of coins, ingots, or dust--as long as the amount owned constitutes a nisab, a period of a year has passed, debts are settled, and/or basic needs satisfied from it.
Nisab of Gold and Its Due
The minimum of nisab for gold is twenty dinars owned for one year. Its due is a quarter of a tenth, that is, half a dinar. For any amount over twenty dinars, a quarter of a tenth is levied upon it. 'Ali reported that the Prophet, upon whom be peace, said: "There is nothing upon you in gold, until it reaches twenty dinars. Thus, if you have twenty dinars at the end of the year, then there is half a dinar levied on it [as zakah]. Any additional amount will be calculated in this manner. There is no zakah on property until it has been owned for one year."
This hadith is related by Ahamd, Abu Dawud, and al-Baihaqi. Al-Bukhari grades it authentic and alHafidh verified it.
Zuraiq, the Fazarah clan's protege, reported that 'Umar ibn 'Abdulaziz wrote to him after he became caliph: "Take what passes by you of the commerce of the Muslims--those who trade with their properties--a dinar for each forty dinars. From that which is less than forty, calculate on the lesser amount until it reaches twenty dinars. If you have to take one-third of a dinar, disregard it and do not take anything on it. Afterwards, give them a written release of what you have levied from them until the year expires." This is related by Ibn Abu Shaibah.
Malik says in his al-Muwatta': "The uncontroversial tradition that we have is that the zakah due on twenty dinars is like the zakah due on two hundred dirhams."
Twenty dinars are equal to twenty-eight Egyptian dirhams in weight.
"When a person dies, his works end, except for three: ongoing charity, knowledge that is benefited from, and a righteous child who prays for him."
Prophet Mohammed (PBUH)
"The best of what a man leaves behind are three: a righteous child who supplicates for him, ongoing charity the reward of which reaches him, and knowledge that is acted upon after him."
Sunan Ibn Mājah
"Every day two angels come down from Heaven and one of them says, 'O Allah! Compensate every person who spends in Your Cause,' and the other (angel) says, 'O Allah! Destroy every miser.'"
Sahih Bukhari