ISLAMABAD – Administrator General of Zakat has notified Nisab of Zakat for Zakat Year 1438-39 Hijri at 39,198 rupees. Zakat from saving bank accounts, profit and loss sharing accounts and other similar accounts having a credit balance of 39,198 rupees or above would be deducted on first of Ramazan.
KARACHI: The State Bank of Pakistan has fixed Nisab on Zakat. This year Rs 39,198 Nisab for deduction of Zakat from all savings accounts.
According to banks rule Zakat will be deducted from those savings accounts which have sum above the fixed Nisab of Rs 39,198.
This year’s Nisab is around 18 percent less than last year which was fixed Rs51,086. Reduction in Nisab due to the recent decline in gold prices.
Nisab for Zakat fixed at Rs Rs 39,198 in 2018
All Muslims are required to pay 2.5 % Zakat on their annual savings, According to Islamic Shariah.
Banks deduct 2.5 % Zakat from all the savings accounts on 1st of Ramazan, Under Zakat ordinance.