I have gold and silver jewellery to the value of R12,000

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Date: Thursday, September 29, 2011

 

Category

Zakaat

Title

 

I have gold and silver jewellery to the value of R12,000

 

Question

 

I have gold and silver jewellery to the value of R12,000 and a liability of R28,000. Do I have to pay Zakaat on the gold and silver Jewellery?

 

 

Answer

 

Muhtaram / Muhtaramah

 

In the Name of Allāh, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.

 

If you have other Zakaatable assets besides the gold and silver jewellery, its value should be added to the value of the gold and silver jewellery as well. If the liability of R28,000.00 exceeds the value of the assets there is no Zakaat. However, if there is an excess which is equivalent or more than the nisaab amount, Zakaat will be payable on the excess only.

 

 

And Allah knows best
Darul Iftaa

Madrasah Inaa’miyyah

 

 

·         The Sharée ruling herein given is specifically based on the question posed and should be read in conjunction with the question.

·         The Darul Ifta bears no responsibility to any party who may or may not act on this answer. The Darul Ifta being hereby exempted from loss or damage howsoever caused.

·         This answer may not be used as evidence in any Court of Law without prior written consent of the Darul Ifta.

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