1. What is Zakat?

Zakat is one of the Five Pillars of Islam, an obligatory form of almsgiving for financially able Muslims. It's calculated as 2.5% of one's wealth above the nisab threshold that has been held for one lunar year.

2. How is Zakat Calculated?

The zakat calculation formula is:

Where:

• Wealth — Total value of your zakatable assets (cash, gold, investments, etc.)
• Nisab — Minimum threshold amount that makes zakat obligatory
• 2.5% — Fixed zakat rate for monetary wealth

Note: Zakat is only payable if your wealth exceeds the nisab threshold for a full lunar year.

3. Current Nisab Value in Bangladesh

Details: The nisab is equivalent to the value of 612.36 grams of silver or 87.48 grams of gold. The calculator uses the silver standard nisab value (592,200 BDT as of 2024), but you can adjust this based on current market rates.

4. Using the Calculator

Instructions:

1. Enter your total zakatable wealth in Bangladeshi Taka (BDT)
2. Enter the current nisab value (default is set to 592,200 BDT)
3. Click calculate to see your zakat obligation

5. Frequently Asked Questions (FAQ)

Q1: What assets are included in zakat calculation?
A: Cash, gold, silver, investments, business inventory, and other liquid assets. Personal items like home, car, and daily clothing are excluded.

Q2: How often should I pay zakat?
A: Zakat is paid annually, once your wealth has exceeded the nisab for one full lunar year.

Q3: Can I pay zakat in installments?
A: Yes, you can pay the calculated amount in installments throughout the year if needed.

Q4: Who is eligible to receive zakat?
A: The Quran specifies eight categories including the poor, needy, those in debt, and travelers in need.

Q5: Should I use gold or silver standard for nisab?
A: Most scholars recommend using the silver standard as it makes zakat obligatory for more people, benefiting more recipients.