Nisab

What is Nisab?

Nisab is the minimum value of wealth a person must possess to be obligated  to pay Zakat.

The Prophet (saw) calculated Nisab at a rate equivalent to 87.5 grams of gold or 613 grams of silver. Nisab is calculated by converting this rate to your local currency.

Since we don’t use silver or gold as a currency, checking current market rates can help determine the exchange value of Nisab rates.

Nisab Values 

Using value of silver (612.36 grams) – approximately $1,757.47

Using value of gold (87.48 grams) – approximately $16,936.13

Is Gold or Silver used for Nisab?

Both gold and silver can be used to calculate Nisab.

In the Hanafi madhab , the value of silver is used to determine the Nisab threshold and eligibility to pay Zakat, whereas other madhabs use gold to determine Nisab.

Either one can be used when determining your Zakat eligibility.

To calculate your Zakat, use our Zakat Calculator.

What does the term ‘Hawl’ mean?

Hawl refers to one lunar year, consisting of 354 days.

You are required to pay Zakat once one Hawl has passed, beginning from when  you are eligible to pay Zakat. However, this only applies if your net wealth remains at or above the Nisab threshold at the end of the  year.