Zakat – 3. Currency and Debt

Zakat of Currency

  • Discussion on currency being based on gold and silver
  • Nisaab (the Zakaat threshold)
  • Nisaab for cash: base on gold or silver?
  • What to do if you have less than Nisaab for each gold and silver
  • Zakat on permissible jewelry

Zakat of Debt

  • How the creditor would pay Zakat
  • Rulings of dowry
  • How the debtor would pay Zakat
  • Manifest vs Non-manifest money
  • Debt on non-perishable items like mortgage and industrial debt

 

Reference: Al-Umdah by ibn Qudamah Al-Maqdisi

 

Book 4