What do we do if the Nisab rate fluctuates before our Zakat anniversary date ?
Fatawa Question
A year ago, I passed the Nisab and I took note of the date and Nisab amount. Before my Zakah due date, I fell below that recorded Nisab, but by then the current Nisab had also fallen below what I possesed (so I have less than the Nisab of the very first day I became Zakah liable, but I have more than the current Nisab). Do I have to pay Zakah ? if so, should i keep the same Zakah due date and re-record the new Nisab ? and if not, since I’m above the latest nisab, should I record the latest Nisab as my Nisab for next year, or should I base my Zakah liability on my recorded Nisab from last year, when I first became eligible ?
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2015-07-11
Country of Publication
United Kingdom
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-727166
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2015-07-11. What do we do if the Nisab rate fluctuates before our Zakat anniversary date ?. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-727166
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). What do we do if the Nisab rate fluctuates before our Zakat anniversary date ?. Manchester England : al-Qalam Shariah Scholar Panel. 2015-07-11.
https://search.emarefa.net/detail/BIM-727166
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2015-07-11. What do we do if the Nisab rate fluctuates before our Zakat anniversary date ?. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-727166
