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Federal Government notifies the minimum Nisab for the Zakat deduction

Federal Government notifies the minimum Nisab for the Zakat deduction

ISLAMABAD – People maintaining a minimum of Rs80,933 balance in savings,profit and loss sharing or similar bank accounts on the first day ofRamadan will be liable to pay 2.5 percent Zakat on the total balance.

A notification issued by the Administrator-General Zakat for the lunar year1441-42 Hijri said Sunday.

Zakat is an obligatory charity for all eligible Muslims and is based on thecurrent nisab values. These values can change year to year.

Earlier, Federal Minister for Science and Technology Fawad Chaudhry saidthat the Ramadan moon would be sighted country-wide on April 13. Pakistaniswill break their first fast on April 14, he predicted in a tweet.

The Pakistan Meteorological Department also predicted that the Ramadan moonwill be sighted on Tuesday, April 13. The sky on the day will be clear withlesser clouds making it easier to sight the moon.