Wealth that is subject to Zakaah and nisaab amount

Islam has enjoined zakaah on trade, crops, plants, honey, fruit, livestock, merchandise, minerals, gold (including cash), silver, bonds, banknotes, treasures, and wealth extracted from the sea. However, in order to be concise, we will look at those that relate to majority of Australian Muslims.

Zakaah on gold and silver:
Evidence of compulsion of giving zakaah for the above categories from

• Qur'aan: "and those who hoard up gold and silver and spend it not in the way of Allah, - announce onto then a paintful torment. On the Day when that (kanz-money, gold and silver etc) will be heated in the fire of Hell and with it will be branded on their foreheads, their flanks(side of the body between ribs and hips) and theirs backs: (and it will be said unto them): - "This is the treasure which you hoarded for yourselves. Now taste of what you Hoard"



• Sunnah: Ahmad, bukhari and Muslim narrated from Abu Hurairah (R) that the Messenger of Allah said; "No owner of a treasure who does not pay zakaah will be spared, for his treasure will be heated in the fires of Hell and then made into plates. His flanks and his forehead will be branded with them until Allah pronounces judgment on His servants during a day lasting fifty thousand years...."

The nisaab amounts are as follows:

Gold: if it reaches 20 mithqaal and full year (Islamic - based on lunar calendar) passes, then it becomes compulsory to take zakaah out on it 20 mithqaals weigh up to 85 grams approximately.

Silver: If it reaches 200 dirham and full year (Islamic) passes, then it becomes compulsory to take zakaah out on it. This is according to the hadeeth of Abu Saeed Alkhudry (R) who said that Allah's Messenger (PBUH) said, "... and also there is no Zakaah on less than five Awaq (of silver)...." and five awaq is equivalent to 200 dirhams as one awqiyah (singular of awaq) is 40 dirham.

Cash also falls under this category. The rate is 2.5% according to a hadeeth of Ali recorded by Abu Daud.