Question:
Our respected Sheikh, kind greetings, blessings from Allah
Assalamu Alaikom Wa Rahmatullahi Wa Barakatuhu
My question is in relation to the Nisaab of Zakat in trading offers: it was mentioned in Funds in the Khilafah State book, page 142 (English version), that the Nisaab of Zakat in silver-which is 200 Dirhams- becomes 595 grams, or 20 Dinars gold is 85 grams of gold. Which of the two Nisaab should we adopt today for our calculations in trade offers, knowing that there is a great difference between the prices of silver and gold, so one gold dinar is equal to approximately 100 silver Dirhams. So if we calculate five gold Dinars, its price will exceed the Nisaab of silver, so which of the two Nisaabs do we adopt today? May Allah سبحانه وتعالى bless you and allow us to benefit from your knowledge.
From Loutt Abu Sneineh
Answer:
Wa Alaikum Assalam Wa Rahmatullahi Wa Barakatuhu
Firstly: For those who trade with gold, the Nisaab is 85 grams of gold and for those who trade with silver, the Nisaab is 200 Dirhams of silver, as for the representative paper currency, then it depends on what is recorded on it that substitutes it: “If it is a substitute for gold, it is considered with the Nisaab of gold, if it is a substitute for silver, it is considered with the Nisaab of silver”.
As for paper which takes its value by the force of law, and not paper representing gold or silver, like the current paper currency, hence I outweigh that it be corrected with the least of the two Nisaab, i.e. with silver, so if the value of the paper currency reached 200 Dirhams of silver i.e. the value of 595 grams of silver, which is about 20 ounces of silver, and I believe that one ounce of silver equals to $30, and this means that if what a Muslim owns reached approximately $600 “should be calculated precisely”, and had no debt on him…. Then he is of the people of Zakat, so if one year passes on the Nisaab without any amount decreasing from it, he is obliged to pay Zakat.
I said the least of the two Nisaab, because if the Nisaab reached the minimum, then he becomes of the people of Zakat, and it is not permissible for him to exceed it while waiting for the upper Nisaab, rather he has to record the date he became of the people of Zakat, then after one year passes and the Nisaab did not decrease, then he has to pay the Zakat. This is what I outweigh, and Allah سبحانه وتعالى knows Better and Wiser.
Your brother,
Ata Bin Khalil Abu Al-Rashtah
08 Rajab 1435 AH
07/05/2014 CE
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