It's time to give Zakat
Zakat donations are handled with the greatest care to ensure they reach eligible recipients. Your Zakat helps orphans and refugees in most need.
No Zakat is used for running the organisation or for raising funds.
Your Zakat Calculator & Guide
Do I pay Zakat?
Yes, if you are all these:
- Muslim
- Adult
- Of sound mind
- Own minimum Nisab amount
What is Nisab?
This is the minimum amount of wealth you must own for Zakat to be payable on it. There are two Nisab thresholds:
As of March 2024, gold nisab value is approximately $5,967 and silver nisab value is approximately $470
The gap between the two thresholds is wide, so although traditionally Silver Nisab was preferred, Gold is now also adopted
How to calculate Zakat?
1. Your net wealth
What you own at the end of a 12-month lunar year minus what you owe or need to pay at the time of your zakat payment – a snapshot of your balance
2. Nisab threshold
As of March 2024, gold nisab value is approximately $5,967 and silver nisab value is approximately $470
3. Above the Threshold?
If your net wealth is greater than or equal to the Nisab value then you pay 2.5% of your net wealth as Zakat.
If your net wealth is below the Nisab value, then you do not owe any Zakat.
What you own
Include these as your assets:
- Cash, bank balance, money lent to others
- Stocks & shares
- Gold & silver
- Merchandise bought with the intention of resale
- Farm produce, livestock animals
What you owe
Liabilities you can deduct:
- Payments due for living expenses - rent, mortgage, utility bills for the current month
- Debts
When is it due?
Your Zakat payment is due a year from the date your net wealth first met or exceeded the Nisab
Zakat is an annual obligation due once every lunar year. A snapshot of your balance.
Who receives Zakat?
Your zakat to IAC reaches:
- Syrian refugees in most need
- Orphans
- Poor and needy
- Food distribution
- Shelter and clothing