Most Muslims choose to offer Zakat in Ramadan due to higher spiritual rewards in the holy month, but it is not necessary. Zakat should be paid once every year. The day a Muslim becomes the owner of minimum wealth that makes Zakat payable, they must calculate and pay the amount in the period of exactly one lunar year from this day.
Source: File Photo. ISLAMABAD – The government of Pakistan has fixed the Nisab for Zakat deduction on bank accounts at Rs103,159 for the year 2023. A notification issued by the Poverty
Zakat on wealth is based on the value of all of one's possessions. It is customarily 2.5% (or 1 ⁄ 40) of a Muslim's total savings and wealth above a minimum amount known as nisab each lunar year, but Islamic scholars differ on how much nisab is and other aspects of zakat. Zakat becomes obligatory if someone is minimally in possession of 612.36 grams of silver. One-fortieth (1/40) of the total amount should be paid as Zakat. Abu Sa`id al-Khudri states that Holy Prophet [SAW] said,There is no Zakat upon any silver that is less than five awqiya (612.36 grams) [Bukhari, #1390].
The minimum amount liable for Zakat in Euros [or any other currency] is the value of 85 grams of gold; so whoever possesses that amount, possesses the minimum amount liable for Zakat, so after a whole lunar year with such amount in your possession Zakat has to be paid on it. Please refer to Fatwa: 85396 for more details. Allaah knows best.
Zakat (mandatory charity) is the third pillar of Islam. Muslims are required to pay Zakat annually if they possess sufficient financial resources. Each individual who possesses the Nisab (minimum amount of wealth needed for Zakat to become obligatory on a person) has to set aside a fixed portion (2.5%) of their wealth for the poor.
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ዷዓ иրиዱաпсեзиИփ նоХрոжըմሗ ֆи айሌзуջըнт
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