How is Zakat calculated?
Assets to add in your Zakat calculation are money (in hand, in bank accounts or money lent to someone), shares, pensions, gold and silver. Own items (your home, furniture, cars, food, clothing) are not included in Nisaab.
There are two types to determine Nisaab – gold (3 ounces or 87.48 grams, or its money equivalent) or silver (21 ounces or 612.36 grams, or its payment equivalent).
On today’s rate of gold per gram of £30.70, the nisaab is £2,685.63
Based on today’s rate of silver per gram of £0.38, the nisaab is £232.70
Have you tried our Zakat Calculator?