Question:
How much is the threshold for zakāt on money?
Answer:
The scholars of recent times have differed in this.
From them are those that say it’s threshold is based upon the threshold for gold and from them are those that say it’s threshold is based upon the threshold for silver, this is safer (for the payer) and weightier for the needy, were the person to pay it, it would not harm him.
So based upon this; the threshold for silver is 595 grams, this is the threshold for silver.
So the person asks the jeweller: ‘what is the price of a gram of silver?’
When he informs him, he multiplies this price by 595 and the result is the zakāt threshold for money.
And Allah is most knowledgeable.
Answered by: Shaikh Abu Abdillah Muhammad Ba Jamaal (May Allah preserve him)
Source: https://t.me/bajmaal/4493
Translated by: Abū Sufyān Sāmi ibn Daniel Al-Ghāni