Nisab of zakat on money

Zakat (obligatory charity on sane adult Muslims) is considered one of the five pillars of Islam. Zakat is such an essential part of our faith that it is mentioned in the Quran multiple times:

So, establish regular Prayer and give regular Charity; and obey the Messenger; that ye may receive mercy” (Quran 24:56).

Zakat is intended to purify your wealth, protect you from sins and evil that stem from greed, and care for the vulnerable and needy in your community.

When Do I Pay Zakat?

Zakat is paid annually.

It is due on every lunar year (also known as a hawl) on the day that your wealth exceeded the minimum threshold known as nisab. However, there are specific wealth categories that are due immediately when you receive what’s known as a windfall.

There are two general categories of Zakat-qualified (“Zakatable”) wealth, with two distinct Zakat payment times (see What Requirements Qualify Wealth for Zakat?):

• GROWTH WEALTH: This includes currency, gold, silver, business assets, and livestock.

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