Current Nisab threshold (28 February 2023):

Using value of silver (612.36 grams) – approximately €378.63

Using value of gold (87.48 grams) – approximately €4727.49

 

Simplifying your Zakat calculation

Calculating your Zakat isn’t as difficult as you may think. We find that breaking your assets down into different categories makes the Zakat calculation process really simple.

We have broken down the calculation process into Zakatable assets (gold, silver, cash, savings, business assets etc.) and Deductible liabilities (money you owe, other outgoings due) so you can calculate the Zakat you owe easily.

The amount of Zakat you need to pay will be determined once you have calculated the value of your net assets. You then need to see whether your net assets are equal to, or exceed, the Nisab threshold.


Assets & Liabilities

Gold and Silver

Money

Business Assets

Short Term Liabilities

Simplifying your Zakat calculation

Calculating your Zakat isn’t as difficult as you may think. We find that breaking your assets down into different categories makes the Zakat calculation process really simple.

We have broken down the calculation process into Zakatable assets (gold, silver, cash, savings, business assets etc.) and Deductible liabilities (money you owe, other outgoings due) so you can calculate the Zakat you owe easily.

The amount of Zakat you need to pay will be determined once you have calculated the value of your net assets. You then need to see whether your net assets are equal to, or exceed, the Nisab threshold.

 

Using the Zakat calculator

Enter all assets that have been in your possession over a lunar year into the Zakat calculator. This will then give you the total amount of Zakat owed.

What is Nisab?

The nisab is the minimum amount of wealth a Muslim must possess before they become eligible to pay Zakat. This amount is often referred to as the nisab threshold.

Gold and silver are the two values used to calculate the nisab threshold. Therefore the nisab is the value of 87.48 grams of gold or 612.36 grams of silver.

Current Nisab threshold (January 2023):

  • Using value of silver (612.36 grams) – approximately €441.33
  • Using value of gold (87.48 grams) – approximately €4,897.04

Ramadan Resources

Zakat Resources

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