1. What is Zakat?

Zakat is one of the Five Pillars of Islam, an obligatory form of almsgiving for Muslims who meet the necessary criteria of wealth. It's a fixed percentage (2.5%) of a Muslim's savings and wealth that is paid annually to benefit the poor and needy.

2. How is Zakat Calculated in Selangor?

The zakat calculation formula is:

Where:

• Total Wealth — Your total savings and assets after deducting liabilities (in MYR)
• Nisab — The minimum threshold of wealth that makes zakat obligatory (in MYR)
• 2.5% — Fixed zakat rate on wealth above the nisab threshold

Note: Zakat is only payable if your wealth has remained above the nisab threshold for one full lunar year (Hawl).

3. Current Nisab Value

For Selangor (2024): The default nisab value in this calculator is set to MYR 5,890, which is equivalent to the value of 85 grams of gold (based on current gold prices). This value may change annually based on gold prices.

4. Using the Calculator

Instructions:

1. Enter your total wealth (savings + assets - liabilities) in MYR
2. The nisab value is pre-filled but can be adjusted if needed
3. Click "Calculate" to see your zakat obligation

5. Frequently Asked Questions (FAQ)

Q1: What types of wealth are zakatable?
A: Cash savings, gold/silver, investments, business inventory, and other liquid assets. Primary home, personal vehicles and daily use items are exempt.

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

Q3: Can I deduct my debts from zakat calculation?
A: Yes, immediate liabilities (debts due within the year) can be deducted from your total wealth before calculating zakat.

Q4: Where should I pay my zakat in Selangor?
A: You can pay to Lembaga Zakat Selangor (LZS) or other authorized zakat collection centers. Online payment is also available.

Q5: What if my wealth fluctuates during the year?
A: Zakat is calculated based on your wealth at the end of the lunar year, provided it never fell below nisab during the year.