silver on [the fingers of] my hand. He said, What is this, O - TopicsExpress



          

silver on [the fingers of] my hand. He said, What is this, O `Aishah?! I replied, I put them on to make myself beautiful for you, O Messenger of Allah! He said, Do you pay their zakat? I said, No. He said, They are sufficient for you [as a share] of the Fire [of Hell]. [Narrated by Abu Dawud] 2) The nisab for gold is approximately 87g. According to your data, the quantity of your wifes jewelry is more than this. Therefore zakat is considered to be due on it. There is no harm in overpaying the zakat, so if your estimate is a safe estimate ( i.e. definitely not less than the value of the gold) then you can use this figure, and you do not need to weigh it exactly. 3) Yes, the zakat on your wifes jewelry is payable by her. If she does not have enough money to pay the zakat, then either she could sell some of the jewelry, or you could give her enough money to enable her to pay the zakat. 4) To calculate the amount of zakat due on gold jewelry, proceed as follows: i) Determine the weight of the gold (Note that if the jewelry is not pure gold, then you will need to make a proportionate adjustment for the weight). ii) Find out the current price of gold (you can find this on the internet, from sites such as kitco/market/us_charts.html (in US Dollars) or kitco/market/bp_charts.html (in British Pounds). iii) Calculate the price of the gold you have. iv) The zakat due is 2.5% of this (i.e. one-fortieth) Example: i) Weight of gold jewelry is 1110 grams. Divide by 31.13 to convert to troy ounces (or use an online conversion utility, such as metric-conversions.org/weight/grams-to-troy-ounces.htm . Or to convert directly from tolas to troy ounces, multiply the number of tolas by 0.375). => Weight of jewelry is approximately 35.7 troy ounces. ii) Current price of gold is approximately US$ 360 per troy ounce iii) Therefore, value of the gold jewelry is approximately $12852 iv) Zakat due is therefore 12852/40 = $321.30 5) If you have never possessed the amount of nisab, then zakat is not due upon you. (According to the Hanafi school, the nisab for money is (nowadays) calculated on the basis of silver, and according to current silver
Posted on: Mon, 11 Aug 2014 18:26:32 +0000

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