Nisab for Zakat fixed at Rs 41,872 in 2013
KARACHI: The State Bank of Pakistan has fixed Nisab on Zakat. This year Rs41,872 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 Rs41,872.
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.
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.