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Rufai Oladimeji
, Nigeria.
Question:

How do we make Nisaab on
paper money? What I searched
is that you have to pay Zakat on
paper money equal to 606 gram
of chandi (silver). Now, I am
confused regarding Nisaab. I
am getting a monthly salary of
80,000 rupees. Suppose now I
have 150,000 in the bank
(without ribaa) and I spend my
money for my daily needs and
during the year sometime it has
been more than 150,000 and
sometimes less than that and
after one lunar year I have only
45,000 (at start of year it was
150,00 rupees). How would I
make my Nisaab to give Zakat.
Thank you.

Fatwa:
All perfect praise be to Allah,
The Lord of the Worlds. I testify
that there is none worthy of
worship except Allah, and that
Muhammad sallallaahu alayhi
wa sallam is His slave and
Messenger.

We have already issued many
Fataawa clarifying that the
Nisaab (i.e. the minimum
amount liable for Zakat) for
bank notes is the equivalent of
85 grams of gold or 595 grams
of silver.
Determining the Nisaab based
on gold is preferred over
determining it based on silver,
that is because the scholars
though they agreed that
the Nisaab for silver is 200
Dirhams, they differed in
determining the weight of a
Dirham and subsequently
differed in determining the final
value of Nisaab for silver by
grams. On the other hand, the
scholars agreed that the
Nisaab for gold is 20 Mithqaal
(a measure which is equivalent
to 85 grams of pure gold, 1
Mithqaal = 4.25 grams), and
they agreed about the weight of
1 Mithqaal, and thus, made it
easy to accurately determine the
Nisaab for gold by grams.
Therefore, it is more
appropriate for you to assess
the Nisaab for your bank notes
based on gold rather than
silver.
Furthermore, the best way of
paying the Zakat on money is by
determining a time for paying
the Zakat of one’s wealth
annually, starting after a whole
lunar year passes from the time
of owning the Nisaab. Then,
every year, he pays his Zakat in
the same time, upon all types of
wealth which are liable for Zakat
and met Nisaab requirements.

One should pay Zakat on the
entire amount whether it
increased, during that year, or
decreased from the start up
amount. What really matter is
fulfilling the prerequisite of
Nisaab even if one gets more
money after the beginning of
the lunar year. This method of
calculation is to the benefit of
the poor and easier in
calculation.

Allah knows best.

www.islamweb.net/en/article/138743/assessing-the-nisaab-of-bank-notes

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