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  • Zakat On Jewelry

    Posted by Mohsin Riaz on May 1, 2021 at 3:54 pm

    I have personal gold jewelry which I got from family at my wedding. Most of it is now in bank locker which will be used later for my children. So do I have to pay Zakat on it yearly or it falls under personal use.

    Faisal Haroon replied 2 years, 11 months ago 3 Members · 4 Replies
  • 4 Replies
  • Zakat On Jewelry

    Faisal Haroon updated 2 years, 11 months ago 3 Members · 4 Replies
  • Umer

    Moderator May 1, 2021 at 4:02 pm
  • Mohsin Riaz

    Member May 1, 2021 at 4:26 pm

    My question is that gold is also an asset, although not now it’s saved for children but it can be used in an emergency or sudden need so therefore due to highly liquidate asset, does that gold falls under Zakat

    • Umer

      Moderator May 1, 2021 at 4:31 pm

      As a principle, Gold is an asset and is subject to Zakat if it is above Nisab threshold except only for the portion of Gold which is of personal use. Decision regarding personal use can vary from person to person depending upon their individual circumstances.

    • Faisal Haroon

      Moderator May 1, 2021 at 6:14 pm

      What Umer sahab stated above is correct.

      Just a little bit of clarification: nisab is calculated on the sum total of the current value of all your assets.

      To sum it up, normally zakat is due on all assets, however, since there’s exemption for personal use items, one may make an ijtihad on gold saved for children’s wedding etc. to make it exempt as well. The decision belongs to the person himself in accordance with the sincerity of their intent of any saving.

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