Prayer Time

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What is the lowest amount in which zakat is compulsory.

Answer: We know that the paper money or the traded currencies these days is determined in other to know the Nisaab [i.e. the minimum amount liable for Zakah] based on the lowest price of gold and silver. There is no doubt that silver is presently very cheaper than gold in this period. The amount of silver on which Zakat must be paid is 595 grams and one gram of silver is equivalent to one Saudi riyal or less than one Riyal.  
So, Whoever has 595 Riyal or 600 Saudi Riyal or what is equivalent to it is obliged to pay Zakat on his money, and this is when a gram of silver is equivalent to one Riyal. If one gram of silver is equivalent to two Riyals, then zakat is not compulsory unless it reaches (1200) Riyals.

 

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