Zakat al-mal embodies a unique system of social solidarity and spiritual purification of wealth. It serves as a crucial tool to alleviate poverty and strengthen community bonds, operating under precise standards to ensure every Muslim contributes to supporting those in need.
Today’s article delves into the concept of nisab for Zakat al-mal in Saudi Riyals and how to calculate it, along with the associated Islamic legal rulings.
What is the nisab for Zakat al-mal in Saudi Riyals?
Discussing the nisab for Zakat al-mal in Saudi Arabia, according to Islamic law, this zakat is mandated when wealth reaches the value equivalent to 85 grams of pure gold after a full lunar year has passed.
The nisab value is determined based on the current gold price in the market. If one’s wealth reaches or exceeds this value, Zakat al-mal becomes obligatory; if it does not, no zakat is due.
Calculating Zakat al-mal in Saudi Riyals Muslims follow a procedure to determine the amount of zakat due on their wealth, which varies by the type of wealth being taxed. In Saudi Arabia, the rate used is a quarter of a tenth, i.e., 2.5% of the total amount, as taught by the Prophet.
For example, if a person owns 20,000 Saudi Riyals, the zakat due would be 500 Saudi Riyals.
Zakat al-mal Calculator Program in Saudi Riyals
The Ehsan platform offers an advanced zakat calculator for gold, silver, cash, stocks, and investment funds. This program allows users to easily and directly pay the calculated zakat, ensuring quick delivery to those who deserve it.
How to Pay Zakat al-mal in Saudi Riyals?
If a Muslim possesses wealth equal to 85 grams of gold and a lunar year has passed, they must pay 2.5% of the total amount as zakat, which equates to one part in every forty parts of the wealth.
Who is Eligible for Zakat al-mal?
Zakat al-mal is given to the categories mentioned by Allah in the Quran: “Charities are for the poor, the needy, those employed to collect [the funds]; for bringing hearts together [for Islam], for freeing captives or slaves, for those in debt, in the cause of Allah, and for the traveler [in need]. An obligation [imposed] by Allah. And Allah is Knowing and Wise.”
- The Poor (Al-Fuqara): Those who do not possess any wealth or do not have enough to meet their basic needs.
- The Needy (Al-Masakeen): Those who have some money but it is not sufficient to cover their essential requirements.
- The Zakat Collectors (Al-Aamiloon Alayha): Those who are responsible for collecting and distributing zakat to its rightful beneficiaries.
- Those Whose Hearts are to be Reconciled (Al-Muallafatu Quloobuhum): Individuals who are given zakat to win their hearts or to strengthen their inclination towards Islam.
- For Emancipating Slaves (Fi Al-Riqaab): The slaves whose freedom is secured using zakat funds.
- Those in Debt (Al-Ghaarimeen): Individuals who are in debt and unable to repay it.
- In the Cause of Allah (Fi Sabeelillah): This includes scholars or students of knowledge who strive through their studies and speech.
- The Wayfarer (Ibn Al-Sabeel): A traveler who has run out of funds and cannot continue their journey or return to their homeland.
Masarat for Training and Education in Syria The Masarat Initiative
a free educational initiative, strives to open doors to education for students across Syria, focusing particularly on those in conflict zones or areas most affected by war. Your support helps continue and expand this initiative, benefiting numerous students.
Masarat offers online education through platforms that allow students to continue their studies without additional financial burdens. It is committed to enhancing their thinking and changing their reality for the better by offering various educational Programs such as:
Open Knowledge Portal on YouTube
Your donations of zakat al-mal are a Sadakah Jaryiah benefiting you for a lifetime and will make a difference in the future of these students. Your contribution helps these individuals continue to receive free education under circumstances that suit them, planting seeds for their future success and integration into society.
