Albalagh Logo

Bismillah hir Rahman ir Rahim

Hadith: "If anyone defends his brother's honor in his absences then it is Allah's promise to set him free from the Fire." (Musnad Ahmad)

Current Affairs | Food for Thought | Q & A | General Articles | Audio | Children | Letters | Bookstore
Halal | Education | Islamic Economics | Prophethood | Women & Family | Population | Book Review | Links

 
  Albalagh Home Q & A
  

S E A R C H

Text:


A L B A L A G H
N E W S L E T T E R

Email:
Subscribe
Unsubscribe

Please make sure your email address is correct.

The newsletter will inform you of updates to this page, as well as provide other useful information.


Valuing Jewelry for Zakat Calculation

By Mufti Shafiq Jakura and Mufti M.D. Mangera

Q.): I should be grateful if you could enlighten me regarding the calculations of zakat on gold jewelry. The price of 18k gold actually is 40 US dollars per gram. But it becomes 56 US dollars per gram if labor cost is included. Should I estimate jewelry value for zakat calculation on the basis of 40 or 56 us dollars per gram?


A.) Zakat is payable on the market related value of the gold. Though we are of the opinion that one does not consider the workmanship/craftsmanship of the jeweller, some Ulama are of the opinion that this will be considered as well in the event when one is discharging the Zakat. Hence, it is more in line with precaution that one calculate one’s Zakat obligation using the higher amount.

And Allah Ta'ala Knows Best


    Albalagh Home Q & A
 
No Copyright Notice. All the material appearing on this web site can be freely distributed for non-commercial purposes. Acknowledgement will be appreciated. The audio files may be copied to tapes, etc. for your listening convenience.