If Zakaat of 2.5% is given every year on Savings, will there be nothing left after 40 years?
If Zakaat of 2.5% is given every year on Savings, will there be nothing left after 40 years? – Dr Zakir Naik
Answer By Dr Zakir Naik,Zakaat is compulsory on every Muslim irrespective whether it’s a man or a woman whether adult or minor whether sane or insane as long as he is a free citizen and he has surplus wealth or savings which has reached the Nisaab level or above it and he has that wealth or surplus amount of saving for one complete Hijri year or lunar year then Zakaat becomes compulsory on that particular Muslim and most of the time in most of the cases it is 2.5%. So basically there are few conditions required: No. 1 that person should be a Muslim. Irrespective whether male or female, young or old, sane insane doesn’t matter…..Muslim,No. 2, he should be a free citizen
No. 3 he should be a Saheb-e-Nisaab that means he should be the soul owner of that surplus wealth. Above the basic requirement whatever saving he has got, whatever surplus he has got he should be the sole owner, it should not belong to somebody else and it should be with him for one complete lunar year or Hijri year as its mentioned in the Hadith of Tirmidhi Hadith no. 631 our beloved Prophet Muhammad (sallallahu alaihe wa sallam) said that”Zakaat is payable on the property but natural which is surplus on the wealth which a person possesses and has with him for one year.”
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It will be zero sooner 😂😂😂😂😂
Where it is mentioned we need to pay every year for same gold.
Great answer
well there is a easy loophole lend it to a kafir as he doesnt pay zakat… allah didnt say lending to a kafir is haram. note if the agreement between you is you request the money back at instant allah al hamd will see it as it is in your possesion.. but lets say you say to the kafir you pay me back in 10-15 years you dont have to pay zakat for those years… but can you trust the kafir is the question. so you can probably tell a kafir bank hold this money for me for 10-15 years and you cant touch that money for those years no zakat required on that money…. doable to a islamic bank but they have to pay zakat on that… but if they can invest maybe the money they get from is more, but that is more risky..
well allah al hamd showed he is nicer than the dutch holland laws you have to pay 1.44 percent even if you do that trick, but still less than 2.5 percent zakat required… specially if you are a billionair pfew could save you alot… salam alaykum and subhanallah al hamd(gloriest to allah the most beloved) verdict given…
made video about this after programmed a application to calculate what if 10 million euros would be in my position and if used an amount how much till im broke, well at 87 years old would be empty 50 years from now, and amount could spend was 100 thousand euros a year and zakat starts at 250 thousand a year…
if you look in zakat video me made in description is the application for it, promised no admin rights install internet or disk usage will be done by that application, but he video shows the calculations…
ow about nicer note zakat can get you to janna firdowsa
Assalamualaikum. Thank you for the information on how to calculate zakat and other relevant questions. Suppose a widow or a single women inherits savings or make some savings from job. She decides to retire and depends on the savings for her sustenance for the remainder of her life, does she have to pay zakat ( if the saving is above the nisab level) given that the saving is her only means of sustenance and she cannot depend on anyone for her livings?
Alhamdullilat. Mashaallat. Is there zakat in slaves? You have zakst on camel and sheep..
Read the Quran people, don't be fooled by Hadiths and these scholars for dollars. Nothing in the Quran about this nonsense they talk about! Please just read Quran Zakat is clearly mentioned. Please people follow Quran not Hadith or scholars!!!
I think the situation/question is tricky. I live in the USA and I am trying to buy a house cash. I saved some money but not enough to buy a house cash. With all my struggles in my job I couldn't increase my savings enough to buy that house and then the time to pay Zakat ul-maal comes in, my savings fall to the amount of the previous year. In other words I will never be able to buy a house.
Someone plz explain me this
What if we give cash for the gold the same 100 gram will left for other year also these 100 grams are not giving any profit unlike cattles then why to give zakat for same gold every year
Gold price keeps increasing.
Then there is concept of inflation .
Love from Muslim Brother – Pakistan
Answer is not given properly. If somebody has say 40kg gold. I put %2.5 zakah calculation on each years remaining on EXCEL. Result is; After 20years, remaining is 24.7kg gold, after 40years almost 15kg remains. Most of savings disappear. Answer should be given in this perpective.
Does it mean that if I have 100k savings, and I pay 2.5% zakat every haul year, and the account does not grow, it keeps depleting after payment zakat and as long as the balance is above nisab amount, I am still due to pay the zakat. Only if the savings has finally reached the below nisab amount then I don't have to pay zakat anymore?
There 's a condition for "zakat" , and that is the money is able to grow.
In this day and age of inflation the 2.5% on savings yearly doesn't makes sense… this is risky for individuals to survive with bank loans and a retiree… the nisab should higher not bare minimum like it is today… i feel like the ruling/interpretation of modern zakat seems lack financial knowledge and actual working class situations
Isnt it better to use money as example not gold…not everyone keep gold… so confuse with the answer… it seems correct worse case scenario that you may need to pay your savings until it reaches nisab…and u may be old and poor living in the city?
But in cash it will be very less, if someone have 4000 then it will be 750 in 10 years
"…If the camels are more than this, a she-camel in her fourth year is to be given for every fifty camels, and a she-camel in her third year is to be given for every forty camels…". This is just part of the hadith by Abu Dawood. So when and how did we choose this compering with 40 camels (which is calculated as 2,5 percent) over 50 camels?
Please help me calculate my zakat for precious years! Please please
it will take around 180 years to be the savings about 1/100 times than the first amount
If zakat pay every year in savings.. In case no any other income only saving …Than after 30 years saving will be 0 …….. And after 30 years this person Also go for abl to take Zakat Category it means if no any other source of income than 30 year after this person also go poor ……… So i m confused on this topic.. Plz give me a write answer
Doesnt matter still my money is not increasing and i keep giving its zekat over and over. Doesnt make sense to give so many times for same money
According to Quran zakat is on income, not on jwellery or personal asset which does not have income.
I am house wife and i have a gold by given by my parents and from husband(mehar) should i give zakath or my hus should give zakath. he (huz)has no zakat for anything else.
Thata not correct way of looking at it. A person tends to keep the gold so the gold amount doesnt change except the person makes cash donations every year and effectively after 40yrs will have paid the price of the gold unless of course the gold increases in value with time (which it tends to do). The bottom line is pay your Zakat, its more beneficial to do so for the hereafter and actually a very very small obligation with huge rewards. I think the question could have been answered far better. However if you have cash savings it will not increase in value unless you accept interest on the money (forbidden) so its better to invest your money in a halal way for a better return that will also finance your Zakat if you really want to keep the principal sum. Regards.
Not a convincing answers.. just say Allah is giving you , keep paying zakaat
Ppl are encouraged to invest or do business with their money. Also you buy land, a home and cars which you don't pay zakat on. Like also your furnishings and everything that's not cash, gold or silver or if producers (it's grains, dates etc) Those things (gold etc) have to pay zakat on when you have a certain amount of it only.
Year 100 gms Zakat
1964 ₹ 630.00 ₹ 15.75
1965 ₹ 710.00 ₹ 17.75
1966 ₹ 830.00 ₹ 20.75
1967 ₹ 1,020.00 ₹ 25.50
1968 ₹ 1,620.00 ₹ 40.50
1969 ₹ 1,760.00 ₹ 44.00
1970 ₹ 1,840.00 ₹ 46.00
1971 ₹ 1,930.00 ₹ 48.25
1972 ₹ 2,020.00 ₹ 50.50
1973 ₹ 2,780.00 ₹ 69.50
1974 ₹ 5,060.00 ₹ 126.50
1975 ₹ 5,400.00 ₹ 135.00
1976 ₹ 4,320.00 ₹ 108.00
1977 ₹ 4,860.00 ₹ 121.50
1978 ₹ 6,850.00 ₹ 171.25
1979 ₹ 9,370.00 ₹ 234.25
1980 ₹ 13,300.00 ₹ 332.50
1981 ₹ 18,000.00 ₹ 450.00
1982 ₹ 16,450.00 ₹ 411.25
1983 ₹ 18,000.00 ₹ 450.00
1984 ₹ 19,700.00 ₹ 492.50
1985 ₹ 21,300.00 ₹ 532.50
1986 ₹ 21,400.00 ₹ 535.00
1987 ₹ 25,700.00 ₹ 642.50
1988 ₹ 31,300.00 ₹ 782.50
1989 ₹ 31,400.00 ₹ 785.00
1990 ₹ 32,000.00 ₹ 800.00
1991 ₹ 34,660.00 ₹ 866.50
1992 ₹ 43,340.00 ₹ 1,083.50
1993 ₹ 41,400.00 ₹ 1,035.00
1994 ₹ 45,980.00 ₹ 1,149.50
1995 ₹ 46,800.00 ₹ 1,170.00
1996 ₹ 51,600.00 ₹ 1,290.00
1997 ₹ 47,250.00 ₹ 1,181.25
1998 ₹ 40,450.00 ₹ 1,011.25
1999 ₹ 42,340.00 ₹ 1,058.50
2000 ₹ 44,000.00 ₹ 1,100.00
2001 ₹ 43,000.00 ₹ 1,075.00
2002 ₹ 49,900.00 ₹ 1,247.50
2003 ₹ 56,000.00 ₹ 1,400.00
2004 ₹ 58,500.00 ₹ 1,462.50
2005 ₹ 70,000.00 ₹ 1,750.00
2006 ₹ 84,000.00 ₹ 2,100.00
2007 ₹ 108,000.00 ₹ 2,700.00
2008 ₹ 125,000.00 ₹ 3,125.00
2009 ₹ 145,000.00 ₹ 3,625.00
2010 ₹ 185,000.00 ₹ 4,625.00
2011 ₹ 264,000.00 ₹ 6,600.00
2012 ₹ 310,500.00 ₹ 7,762.50
2013 ₹ 296,000.00 ₹ 7,400.00
2014 ₹ 280,060.00 ₹ 7,001.50
2015 ₹ 263,430.00 ₹ 6,585.75
2016 ₹ 286,230.00 ₹ 7,155.75
2017 ₹ 296,670.00 ₹ 7,416.75
2018 ₹ 314,380.00 ₹ 7,859.50
2019 ₹ 352,200.00 ₹ 8,805.00
Some historical data of Gold Price since 1964 and a person having 100 grams of Gold and the Zakat paid since then. Over all value is never "NIL" (Unless the 1 gm comes to 2007 level of Rs10,800 or a drastic fall). After 12 years the Zakat paid is more than the Original purchase value.
After 56 years of paying Zakat, overall Zakat paid is ₹ 108,131.00
and 31% of the current value of 100 gm of Gold (2019 data)
MashaAllah
If someone pay zakaat less than what is applied on him
If someone pay zakaat less than what is applied on him
If someone pay zakaat less than what is applied on him
Suppose I gave zakat on 6 lakhs …..next year I have 10 lakhs and I didn't spent those 6 lakhs so should I give zakat on 4 lakh because that's the amount I earned that particular year and already gave zakat on 6 lakhs plz answer my question
Dr Zakir Naik can explain the importance of Khums from Quran
Sir You are so brilliant and your logic is so 👌👌
Assalamualaikum . How parsent TK Zakat I give? In Bangladesh Tk
Assalamualaikum sir..if i have gold more than 7 bhuri….if it is about 40 bhuri…now should i consider 7 bhuri and give jakat on the remaining amount ?
Or…….should i give jakat on the whole amount??
How many times mention zakat in Qur-Ann?
There is 100gm of gold and suppose 1gm of gold is 1rupee. Then first year zakat is 2.5gm of solid gold or 2.5 rupees equivalent value of 2.5gm gold. Someone gift me 3rupees and I pay zakat 2.5rupees from it. But 100gm is as it is because zakat is not paid in form of solid gold or by selling 2.5gm gold and then paying zakat. So next year same old 100gm gold is there. Now the question arise that second year zakat has to be calculated on 100gm gold or 97.5gm gold because 2.5% of this same old gold was paid in first year?
Maulana Azad had told this long before Zakir Naik.
Please tell me if zakat is given on annual savings or whole life savings????
Another example of why all religions are full of shit
Please tell me 10 invention invented in Islam Since Islam form.
There is only two condition. One is invention should be before 19th century.( Nowadays people shifting to any where in the world for education, research and jobs.) Second is this invention should be useful for any one. ( Nuclear bomb is not useful for me as a individual I'm not denying fact that this will save my nation but still not useful for me on daily basis.)
Invention should be in any form. Like, Art, Science, Economy, Maths, Astronomy, Weapons etc.
For Example. 1) Zero invented in India without it we can't live a single day. 2) Glasses (spectacles) invented in Northern Italy once in life time every one have to use. If you don't need in this age you have to use when you cross 80. ect.
I did lots of research on this I could found only one invention that is Algebra. That person from Greek not from Arab.
Islam is very rigid, orthodox, not allow you to explore, as per Islam womens are just for production and sexual satisfaction.
Islam is very cruel and corrupt religion in sura 4.34 said that strike on women if they dont listen you. Muhammad said in sura 9.40, Give bribe to people to change others religion.
What a messenger.
Muslim know that they can not win this world on basis of technology. So they entered in europe by begging and now they are demanding for MOSQUE not for education. They just want to spread Islam all over the world. After that they will fight between them in Shia and Sunni Cast like now days are fighting in seria.
Because of Quran entire world is suffering. [ 26/11(India), 9/11(US) ]. Quran is just written in random way. Their is no deep thought. This religion is only for whose IQ is below 90. Most poor population found in Muslims because they following Quran. In India 80% Muslims are below poverty line. 68% criminals are Muslim in India.
When ordinary Muslim become more religious he/she become terriorist and when Hindu becomes more religious he becomes Sanyasi ( He/she left everything and just start chanting of GOD ). Nobody can't defeat Alexander but Indian Yogi defeats him. In India Muslim rural applied so much extra tax on Hindus because of this survival question aries and then lower cast Hindu converted in Islam.Because they were so poor. This Tax called " Jijiya kar".
If you ask each and every Hindu, what is Hinduism ? You will get different answer from everyone. That is called Hinduism.
I'm not saying follow Hinduism. Just read 10 Pages of Bhagavad Gita and if you found something interesting then continue reading. Otherwise leave it. I could read Quran 80% because after that I can't found anything new. If you did this Allah will punish you. If you not done this then also Allah will punish you. Nothing else is talk in Quran. There is not written anything that get even little difficult to understand other hand hinduism is very difficult to understand. And difficult things make your life easy and interesting.
Please google yourself and see what kind of king happen when Muslims are ruling India. Muslim king are killed their own father and family for enjoyment. Also read about The Great Warrior Shivaji Maharaj.
Please Open your EYES. Dont look at them as a sympathetically. When they get power they start again massacre just they did in Myanmar and every day do in some part of the world.
Accept Islam if you want to do official gangbang.
poeple till have problem on this video go fuck yourself i am tired of hearing this whatever du o its wrong from your piont of view
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he doesn't answer the question. the question was about jewellery of the women, not about assets in gold and silver.
if you want a correct answer, please refer to the book Fiqh az-Zakat written by al-Qaradawi.
Dr zakir naik u are gift from Allah for all humanity
It is true that the amount of fixed savings will slowly decrease every year but the point is that zakat discourages hoarding of wealth in this way. Fixed savings should be invested (in shariah-compliant way) so that they grow. The more it grows the more you can give inshallah. Don't leave savings festering so that they diminish. Invest them for the good of yourself and the community.