8 min read
Yes, Zakat is due on Gold bars and ingots.
Here's an explanation of why and how it applies:
Zakat on Gold: Key Principles
The Zakat Rate on Gold
Exceptions for Jewelry
Why Zakat Applies to Gold Bars and Ingots
Hence, Gold bars and ingots, being forms of wealth used for investment, are subject to Zakat. You must pay 2.5% of the total amount of gold you own. Jewelry worn for personal use, however, may be exempt depending on the circumstances. Always ensure you assess your gold accurately to meet Zakat obligations.
And Allah knows best!
WRITTEN BY
Atta-ur-Rehman
Atta-ur-Rehman, a specialist in Fiqh from Fazal-Jamiat-ul-Uloom-ul-Shariah, Jama'at ul-Umar Karachi, is an expert in Islamic jurisprudence. His expertise spans various aspects of Shariah, including Zakat, financial rulings, family laws, and ethical guidance in everyday life. With a deep understanding of Islamic principles, he provides a reliable insights into matters of faith, worship, and personal obligations.