Zakat is one of the Pillars of Islam and a way to purify your wealth for the will of Allah (SWT). It is payable on assets owned over one lunar year. It is calculated as 2.5% of the total wealth.
According to Sharia Law, Nisab is the minimum amount a person possesses for over a year in order to be obliged to pay Zakah. You can calculate Nisab in terms of either Gold or Silver value. For Silver, the standard Nisab is 21 ounces of silver (612.36 grams) or its equivalent in cash. For Gold, the standard Nisab is 3 ounces of gold (87.48 grams) or its cash equivalent. (Note: check the value of gold and silver in your local currency and put it in the calculator bellow.)
The collected amount is paid first to zakat collectors, and then to poor Muslims, to new converts to Islam, to Islamic clergy, and others. To start calculating your zakat this year, click on the button below.
Nisab in USD(updated 01/04/2022): $456.51
Now, it’s time to calculate –