Giving zakat is obligatory for all applicable Muslims in Islam. However, as nisab values can be quite confusing, not all of us will know how much we are liable to pay. This is where the Al Mustafa zakat calculator comes in handy. Simply enter all of your values where applicable and our handy tool will calculate the sum owed for you.
The amount of zakat you owe in any given year will be based on your retained wealth for one exact lunar year; 2.5% of any maintained wealth above the nisab value is to be paid as zakat.
Al Mustafa Welfare Trust Zakat Calculator
If a Muslims' net capital income or maintained wealth exceeds the applicable nisab value amount then they are liable to pay zakat in the relevant lunar year.
With the Al Mustafa zakat calculator, you can calculate your due zakat based on the value of either gold or silver. The latest nisab values for 2019 are as follows:
- Gold: £2,987.01 (87.5g)
- Silver: £255.21 (625g)
It is important to bear in mind that Zakat is not only payable on gold, silver and cash, it is also payable on any business profits, investments, any money owed to you, shares, property income, and bonds. The zakat payable is based on the relevant sums at the time of paying the sums (at the end of the complete lunar year) as, understandably, maintained profit can vary over the course of the year.
Donate your zakat this year with Al Mustafa Welfare Trust.