A: The proportion Allaah has decreed, i.e. one-fortieth must be given to those whom it is permissible to be given to with a simultaneous intention to fulfil the Zakah when paying it or a simultaneous intention when setting aside the obligated amount.
~ al-Quduri ~
What is the ruling of Zakah on trade goods?
Question 394) - What is the ruling of Zakah on trade goods?
A: Zakah is Wajib on trade goods if the value reaches the Nisab of gold or silver. They will be valued to reach the value of either amount so as to benefit the poor. This is according to Imaam Abu Hanifa RAH. According to Imaam Abu Yusuf RAH. they will be valued with whatever is used to buy them. lf they are bought with gold, they will be valued with gold. lf they are bought with silver, they will be valued with silver. lf they are bought with neither gold nor silver they will be valued according to the prevalent city. According to Imaam Muhammed RAH. they will be valued according to the prevalent currency in all conditions.
~ al-Quduri ~
What is the ruling on gold or silver which is debased with other metal?
Question 392) - What is the ruling on gold or silver which is debased with other metal?
A: lf the overwhelming composition is silver then it is regarded as silver. lf the overwhelming proportion is alloy then it is treated as a gold. The same applies to gold.
~ al-Quduri ~
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.
~ al-Quduri ~
Is there Zakah upon gold and silver ornaments or vessels?
Question 391) - Is there Zakah upon gold and silver ornaments or vessels?
A: All gold and silver are Zakatable, whether in nugget form, ornament or vessel and whether it is used or not.