Basic Conditions for Zakat
1. Financial Requirements
- Ownership of wealth above Nisab
- Complete ownership for one lunar year
- Wealth must be growing/productive
- Free from primary debts
2. Personal Conditions
- Being Muslim
- Being of sound mind
- Having reached puberty
- Having full ownership rights
Understanding Nisab
The Nisab threshold equals:
- 85 grams of gold, OR
- 595 grams of silver
- Equivalent monetary value in current currency
Special Cases and Exemptions
-
Children
- Guardian's responsibility
- Wealth management
- Investment considerations
-
Business Owners
- Inventory assessment
- Partnership considerations
- Digital asset evaluation
-
Joint Accounts
- Shared wealth calculation
- Individual responsibilities
- Family wealth management
Modern Considerations
- Digital currencies
- Investment portfolios
- Retirement accounts
- Intellectual property
Practical Assessment Guide
- Calculate total wealth
- Subtract debts and essential needs
- Compare with current Nisab value
- Assess one-year ownership
- Determine Zakat obligation
Conclusion
Understanding Zakat eligibility ensures proper fulfillment of this religious obligation while maximizing its social impact.