Nisab

In Sharia (Islamic Jurisprudence) niṣāb (نِصاب) is the zakāt-payable amount, which savings or capital or product must exceed in order for the Muslim owner to be obliged to give zakat. Several hadith have formulas for calculating niṣāb. One of the most well known states that No Zakāt is due on wealth until one year passes. The amount is for gold 20 dinārs, and for silver 200 dirḥams^[1]. With todays weights, the zakāt-payable amount the amount above is 90,8 grams gold or 594 g silver^[2].

In general, niṣāb is considered an amount equal to the essential needs of a person or family for one year^[3]. In many modern societies, niṣāb is often interpreted to equate a governmentally determined poverty threshold.

References

1. ^ The Minimum Zakatable Amount (Nisab)
2. ^ Using the weight of 4.54 g for a dinar and 2.97 g for a dirḥam, used at the times of the prophet. See Dinarın Tartısı ve Rayici
3. ^ It means that one lunar year (354 days) has to pass from the day you become an owner of an amount reaching the nisab.