A man neither has gold nor silver, but government recognised bank notes. Is there Zakah payable?
Question 393) - A man neither has gold nor silver, but government recognised bank notes. Is there Zakah payable?
A: Yes, if the notes reach the value of either Nisab of gold or silver. it is like goods of value. Everything is bought with it and it is used in trade. The government is obliged to imburse one who brings these notes to the bank.
