07/10/2021 | Zakah and Sadaqah
Nisab threshold for Zakat Q: What is classed as the nisab for zakat? Is there an exact figure excluding jewelry and assets etc? A: 85g of gold on the day or its value in relation to trade items. For silver, it is 595g. Answered by Shaykh Bilal Brown Nisab...
02/08/2021 | Zakah and Sadaqah
Zakah on Trade Stock Q: Does a year need to pass on my trade stock before I pay zakah on it? If the value of an item decreases after purchasing it for trade, do I still need to pay zakah on it? A: “There is no zakah on items unless they are for trade and the...
02/08/2021 | Zakah and Sadaqah
Zakah of Children’s Wealth Q: I have small children under the age of puberty that have bank accounts over the nisab, do they need to pay zakah on their wealth? Summary: Zakah is an act of worship in the Hanafi School therefore, the wealth of children is not...
