FatwaPenangZakat
Fatwa Mengenai Hukum Penetapan Baki Terendah Zakat Wang Simpanan
How is the lowest balance determined when calculating zakat on savings in Penang?
Short answer
Zakat on an individual's savings is based on the lowest balance held during the year, provided the nisab is reached.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Penang State Mufti Department
- Status
- Fatwa committee decision
- Series
- Himpunan Fatwa (Warta)
- Topic
- Zakat
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
Zakat on an individual's savings is based on the lowest balance held during the year, provided the nisab is reached. The nisab is calculated from all of the person's savings. If an institution has already paid zakat on part of the savings, zakat is due only on the portion not yet zakatised.
Written in our own words from the original fatwa — check the source before acting on it.
Zakat wang simpanan individu adalah berdasarkan kadar terendah dalam setahun apabila mencukupi nisab.
Read the full fatwa on the Penang website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Penang State Mufti Department. “Fatwa Mengenai Hukum Penetapan Baki Terendah Zakat Wang Simpanan”, date not stated. https://mufti.penang.gov.my/index.php/awam/fatwa-1/himpunan-fatwa#fatwa-mengenai-hukum-penetapan-baki-terendah-zakat-wang-simpanan. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/lowest-balance-rule-zakat-on-savings/