FatwaPenangZakat
NISAB ZAKAT & SUKATAN FITRAH
How are the zakat nisab for currency and grain calculated, and is the Malayan currency nisab based on gold or market price?
Short answer
The view in this decision is that Malayan currency is a ringgit only in name and is in substance backed by gold, so its nisab is calculated by gold at 20 mithqal.
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
- Date
- Status
- Fatwa committee decision
- Series
- Keputusan Fatwa Negeri Pulau Pinang (e-Fatwa)
- Topic
- Zakat
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The view in this decision is that Malayan currency is a ringgit only in name and is in substance backed by gold, so its nisab is calculated by gold at 20 mithqal. The figure of $365.36 comes from equating one ringgit with 0.290299 grains of gold, not from the fluctuating market price of gold. The paddy nisab of 206.82 1/4 gantang is acknowledged as very low and burdensome for poor farmers, but calculations must rest on clear bases rather than estimates, since the old gantang measures remain uncertain.
Written in our own words from the original fatwa — check the source before acting on it.
Dan harga emas di pasaran tidak boleh dijadikan asas perhitungan kerana tiada tetap.
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. “NISAB ZAKAT & SUKATAN FITRAH”, 26 November 1969. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=807. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/zakat-nisab-for-currency-and-grain/