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/za·kaat al-maal/
An obligatory annual payment of 2.5% on excess wealth that is in one’s full, unencumbered possession, meets the Nisab (minimum zakatable amount) threshold, and has been held for one full lunar year (hawl). It applies to savings, cash, gold, silver, investments, and trade goods. Zakat purifies wealth and is one of the five pillars of Islam.
Allah says: “Take from their wealth a charity (i.e. zakat) by which you purify them and cause them increase.” (Quran 9:103)
/ni·saab/
The minimum amount of wealth a Muslim must possess before Zakat becomes obligatory upon them. It is defined as the equivalent of 85 grams of 21 karat gold. If a person's savings (after deducting debts and essential expenses) meet or exceed the Nisab and a full lunar year has passed, they must pay 2.5% of that wealth as Zakat.
The amount shown above is calculated by multiplying today's gold price per gram by 85, giving the current monetary Nisab threshold in US Dollars.