“…and those in whose wealth there is a recognised right, for the needy and deprived” (Qur’an 70:24-5)
Nisab is a pre-defined threshold for Zakat
If your savings reach Nisab threshold (after accounting for yearly living costs/expenses) then you must pay 2.5% in Zakat to the poor. The Nisab is determined through the current value of gold and silver (the preferred Nisab at this time is silver, because it maximises Zakat).
The Nisab threshold which obligates the payment of Zakat will be based on the current price of 612.36 grams of silver. This can be calculated by visiting silverprice.org and taking the most up to date valuation. As of 10 May 2020, this amount equates to approx. £244.99 for silver.
- The Nisab value in Gold is 3 ounces / 87.48 grams or it’s cash equivalent.
- The Nisab value in Silver is 21 ounces / 612.36 grams or it’s cash equivalent.
Pay Your Zakat
Zakat for 2021 is set to be £5 per person. Please select how many people you would like to pay Zakat for or use the custom amount to enter a calculated Zakat value.
Please note the form below is mainly to pay Sadaqah and will be spent to support the Mosque and will not go toward Zakat.