In Islam, Nisab is the minimum amount of wealth a Muslim must possess before becoming eligible to pay Zakat. Zakat is a mandatory form of charity. Nisab of Zakat is calculated based on the value of silver or gold, and it varies depending on the currency and the current market value of these metals. The Nisab amount is usually updated annually to reflect changes in the market. In this article we will explain the Zakat Nisab 2024 threshold for different countries in 2024.
The purpose of Nisab is to ensure that Zakat is given by those who have the means to do so. Zakat is an obligation for Muslims to give a portion of their wealth to those in need. By setting a minimum threshold for the payment of Zakat, the Nisab helps to ensure that those who are truly in need can benefit from the charity. It’s worth noting that Nisab is not just an obligation for individuals, but it’s also important for Islamic financial institutions such as Islamic banks and Islamic charities, as they also have to calculate their Zakat obligations based on their own Nisab amounts.
Overall, the concept of Nisab plays a crucial role in ensuring that Zakat is given in a fair manner and that it reaches those who are most in need. Without further ado, let’s have a look at the Zakat Nisab 2024 threshold for different countries according to the value of their currency against the value of silver.
Note: You must have 612.36 grams (21 ounces) of silver or an equivalent amount of money to meet the Nisab threshold.
The Nisab value in Pakistan against silver in 2024 is approximately PKR 137,000.
In the United States, the Nisab threshold is approximately USD 487.01 according to the current value of silver. This amount is subject to change because of the fluctuation in the value of silver.
The Nisab value in the United Kingdom for the said amount of silver or an equivalent amount of money is approximately GBP 383.6.
In Canada, the Nisab threshold stands at approximately CAD 651.88, which may change as the value of silver in the market increases or decreases.
In the Eurozone countries, the value of Nisab in Europe to make you eligible to give Zakat in 2024 is approximately EUR 445.54.
The Nisab value for the zakat in 2024 for the amount of silver in Sweden is approximately SEK 4,987.35
The Nisab value for the zakat in 2024 for the amount of silver in Poland is approximately PLN 1,937.35.
The Nisab value for the zakat in 2024 for the amount of silver in Hungary is approximately HUF 1,68,791.36.
In terms of Danish Krone, the Nisab value against the said amount of silver is approximately DKK 3,322.74.
In Norway, the Nisab value in 2024 upon which you are obliged to pay Zakat is approximately NOK 5,044.38 according to the current market value of silver, and it may fluctuate accordingly.
For the residents of Japan, the Nisab in 2024 is approximately JPY 70,543.53 according to the value of silver.
The Indians are eligible to pay Zakat if they meet the Nisab threshold of approximately INR 40,493.18 according to the current value of silver.
In China, the Nisab for 2024 is approximately CNY 34,63.38. It may change from time to time as the market value of silver fluctuates.
The Nisab value for Russian Muslims in 2024 is approximately RUB 43,638.52, if they want to pay Zakat.
In this Central Asian country, the Nisab for 2024 is approximately KZT 2,21,414.90, as of the current value of silver worldwide.
For Nepal, the Nisab value for 2024 is approximately NPR 64,813.45.
In Bangladesh in 2024, the Nisab threshold for people who are eligible to pay Zakat is approximately BDT 53,413.93.
For Muslims living in Australia, the Nisab in 2024 is approximately AUD 727.16.
In Saudi Arabia, the Nisab threshold to pay Zakat in 2024 is SAR 1,826.37 according to the current value of silver.
In Brunei, the Nisab threshold to pay Zakat in 2024 is BND 648.33 according to the current value of silver.
For Muslims living in Oman, the Nisab in 2024 is approximately OMR 187.48.
UAE (United Arab Emirates)
The Nisab value for the zakat in 2024 for the amount of silver in the United Arab Emirates is approximately AED 1788.77
The Qatari Muslims must have a minimum wealth of unused money or silver worth approximately QAR 1,773.43 to be eligible to pay Zakat in 2024.
In Nigeria, the Nisab threshold for 2024 is approximately NGN 4,31,081.23 according to the value of silver.
The Egyptian Muslims are obliged to pay Zakat if they hold an amount of approximately EGP 15,049.60 or an equivalent amount of silver in 2024.
It is important to note that the Nisab threshold may fluctuate based on the current market value of silver. It is advisable to consult with a trusted religious authority. Must use a reliable Zakat calculator to ensure accurate calculation and payment of Zakat.