Zakah Calculator

    Enter Values and Press Calculate at the Bottom (Nisab Value Below)

    The Nisab value of gold should only be used if the asset of one's wealth is only gold. If one has mixed wealth, which includes having cash, silver and gold, the Nisab value of Silver is used to determine the minimum threshold of paying Zakah.

    How to calculate gold and silver in cash:

    Background:

    Nisab for Gold is 20 mithqal, a measure which is equivalent to 87.48 grams of Pure Gold. This equals to £2922.32 according to the market value on 20/03/12.

    Nisab for Silver and currencies made from Silver is 200 dirhams, which is equivalent to 612.36 grams of Pure Silver. This equals to £400.535 according to the market value on 20/03/12.

    Websites for up-to-date Gold/Silver Rates:

    For today's Gold prices (London Gold Fix): Click here
    For today's Silver prices (London Silver Fix): Click here

    Alternatively, http://www.goldline.co.uk/metalPricesPage.page

    Note: The prices will be in ounces and therefore it will have to be converted in grams: 1 ounce (oz) = 31.103 grams (g).

    Examples:

    Example 1: Based on wealth of 500g of Gold

    Nisab of Gold = 87.48g

    Zakatable Wealth = 500g

    In currency terms, this is worked out as follows:

    500g x price of gold per gram (£33.4055)* = £16702.79

    Zakat is payable at 2.5% on this amount, which works out to £417.569*

    Example 2: Based on wealth of 5000g of Silver

    Nisab of Silver = 612.36g

    Zakatable Wealth = 5000g

    In currency terms, this is worked out as follows:

    5000g x price of silver per gram (£0.654)* = £3270.424

    Zakat is payable at 2.5% on this amount, which works out to £81.76*

    *Price correct on 20/03/12


    Any questions or queries please email info@uwt.org.

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