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In Sharia (Islamic Jurisprudence) nisab (نصاب) is the amount which savings or capital or product must exceed in order for the Muslim owner to be obliged to give zakat. Fiqh ( Arabic: فقه, fɪqəh is Islamic Jurisprudence. Fiqh is an expansion of the Sharia Islamic law—based directly on the An academic discipline or field of study is a branch of Knowledge which is taught or Researched at the college or university level This is a sub-article to Religious education, Academic discipline, and Islam. This is a sub-article of Fiqh and Law and economics. Islamic economics is Economics in accordance with Islamic law This is a sub-article of Islamic economical jurisprudence. Zakaat ( زكاة zækæːh zakaat or zakāh, has the implied Under Islamic law, jizya or jizyah (جزْية ʤɪzjæh Ottoman Turkish: cizye both derived from Pahlavi and ultimately from Aramaic Khums ( خمس xʊms is the Arabic word for One Fifth (1/5 According to Shia Islamic legal terminology it means "one-fifth of certain items which a person This is a sub-article of Zakat, Infaq and Mustahabb. Sadaqah (plural sadaqat) ( صدقة, sˤɒdæqɒh is an A waqf ( plural, awqāf; vakıf wæqəf is an inalienable religious endowment in Islam, typically devoting a building or plot of land for Muslim Bayt al-Mal, AKA Bayt al-Mal Lil Muslimeen is a Hezbollah -controlled organization that performs financial services for the organization Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law ( Sharia) principles and guided by Islamic economics Riba ( Arabic: ربا rɪbæː means Usury and is forbidden in Islamic economic jurisprudence. Murabaha (accurate transliteration murābaḥa, Arabic مرابحه is defined as a particular kind of sale compliant with Shariah, where the seller expressly mentions Takaful is an Islamic Insurance concept which is grounded in Islamic muamalat (banking transactions observing the rules and regulations of Islamic Sukuk ( Arabic: صكوك plural of صك Sakk "legal instrument deed check" is the Arabic name for a financial Certificate but can be seen This is a sub-article to Islamic economical jurisprudence and Inheritance. This is a sub-article of Islamic economic jurisprudence and Muslim world. See also Modern Islamic philosophy, Islamism, Islamic terrorism Political aspects of Islam are derived from the Quran, the Sunna In Islamic law Marriage ("ʿurs" عرس is a legal bond and Social contract between a man and a woman as prompted by the Shari'a. This is a sub-article of Fiqh and Criminal law. Islamic criminal law (فقه العقوبات is Criminal law in accordance This is a sub-article of Islamic jurisprudence and Etiquette. This is a sub-article to Islamic jurisprudence and Islamic theology. This is a sub-article to Fiqh and Hygiene Hygiene is a prominent topic in Islam. Islamic military jurisprudence consists of the basic laws governing the conduct of the military aspects of Jihad (also known as "lesser Jihad " Sharia ( Arabic: ar شريعة) is the body of Islamic Religious law. Jurisprudence is the Theory and Philosophy of Law. Scholars of jurisprudence or legal philosophers hope to obtain a deeper understanding of the nature A Muslim (مسلم pronounced Muslim, not Muzlim) is an adherent of the Religion This is a sub-article of Islamic economical jurisprudence. Zakaat ( زكاة zækæːh zakaat or zakāh, has the implied Several hadith have formulas for calculating nisab. Hadith ( ar الحديث, pl aḥadīth; lit. "narrative" are oral Traditions relating to the words and deeds of the Islamic One of the most well known states that No Zakat is due on wealth until one year passes.
In general, nisab is considered an amount equal to the essential needs of a person or family for one year. In many modern societies, nisab is often interpreted to equate a governmentally determined poverty threshold. The poverty threshold, or poverty line, is the minimum level of Income deemed necessary to achieve an adequate Standard of living in a given country
Method of Calculation
The method of estimating the Nisab (minimum amount liable to Zakah) is applicable to cash money, gold, silver, commercial commodities and cattle. According to a prophetic hadith, "Gold is not liable to Zakah unless it reaches twenty dinars. Once it reaches this amount, half a dinar must be paid as Zakah on it. Likewise, silver is not counted for Zakah unless it reaches two hundred dirhams. Once it reaches this value, an amount of five dirhams must be paid as Zakah on it. " Based on this hadith the Nisab of gold counted for Zakah is twenty dinars (85 grams) of fine gold, while the Nisab of silver is two hundred dirhams (595 grams) of fine silver. The Nisab of merchandise is an amount whose value equals eighty-five grams of gold. No Zakah is due upon other kinds of property unless they reach their Nisab, which will be specified later on. Zakah becomes due upon reaching the Nisab or more than it. According to the Hanafi and Maliki juristic schools, the Nisab is calculated at the beginning and end of the year. Any decrease or insufficiency in between is overlooked. Any increase of property after reaching the Nisab during the year is to be included in the total sum counted for Zakah. This is considered the easiest and most applicable among the other juristic views, which has made the majority of scholars adopt it[1].
References
Zakah for Individuals-Definition. Retrieved on 2008-04-20. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1303 - The University of Rome La Sapienza is instituted by Pope Boniface VIII.
The Minimum Zakatable Amount (Nisab). Retrieved on 2008-04-21. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 753 BC - Romulus and Remus found Rome ( traditional date)
External links
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