Page 17 - Obligatory Zakat Made Easy

ZAKAT ON SILVER

Definition

For silver, whether used as jewellery or stored as
ornaments within a year & exceeding the nisab, the
calculation is based on the value of the silver object. Nisab
for silver equals to or exceeds 595 grams. The zakat rate is
2.5%.

“And there are those who bury gold and silver and spend it
not in the way of Allah: announce unto them a most
grievous penalty. On the Day when heat will be produced
out of that (wealth) in the fire of Hell, and with it will be
branded their foreheads, their flanks and their backs"This is
the (treasure) which ye buried for yourselves: taste ye, then
the (treasures) ye buried!”
At-Taubah: Verses 34-35

Calculation Method

Calculation Example
Weight of silver x Current price of 1 gram of silver x 2.5%
= 1,000 grams x RM2.36 x 2.5%
= RM2,360.00 x 2.5%
= RM59.00

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