CALCULATE MY ZAKAT
The minimum amount to calculate Zakat is called Nissab :
84.7 grams for gold
592.9 grams for silver
For the money, it is considered as a minimum amount (Nissab) 's equivalent of the gold (84.7 g), which corresponds approximately to EUR 4319.7.
It is important to know that the price of gold and silver varies, albeit slightly, on a daily basis. For a precise calculation, check the price when calculating your Zakat.
So to know for sure if my sum of money reaches the Nissab I have to do the trick:
present value gold x nisab gold (84.7g)
I will pour Zakat if I reach Nissab.
Zakat will correspond to 2.5% of the value in my possession.
I HAVE A SUM OF MONEY, WHAT IS MY ZAKAT?
If the money I own exceeds the Nissab ( about 4,319.7 euros) I calculate 2.5% of it.
example:
I have 5000 euros> I have passed the Nissab
calculation 5000 x 2.5: 100 = 125 euro ZAKAT
SUMMARY
1. I verify that I have reached the Nissab
€: around € 4319.7
GOLD: 84.7g
SILVER: 592.9g
2. I multiply the current price by the grams of my good
3. I calculate 2.5% of the value of my good (or money)
4. the result is my Zakat
Remember! To calculate the Nissab in precise money I have to check the gold price at the time of the calculation.
I HAVE A GOLD BRACELET, WHAT IS MY ZAKAT?
example:
Bracelet of 85g> I passed the Nissab; present value of gold (51 euros)
I multiply the grams of the bracelet by the current value of the gold
Bracelet of 85g x 51 euros = 4335 euros
2.5% of the result will be the Zakat I have to pay
4335 x 2.5 : 100 = 108.37 euro ZAKAT
I HAVE A SILVER BRACELET, WHAT IS MY ZAKAT?
The same will be true if the bracelet, or the good is made of silver:
example:
600g bracelet> I passed the Nissab ; present value of silver (€ 0.46)
600g x 0.46euro = 276euro
2.5% of 276 = 6.9 euros ZAKAT