zakat-globallisted

## THE GLOBAL ZAKAT LANDSCAPE Zakat is the obligatory Islamic alms payment — 2.5% of qualifying wealth above the nisab threshold, calculated on a lunar year basis (354 days). Its treatment for Islamic financial institutions varies significantly by jurisdiction. --- ## JURISDICTION SUMMARY TABLE | Jurisdiction | Mandatory? | Formula | Rate | Payer | Filing | |---|---|---|---|---|---| | Saudi Arabia | Mandatory (ZATCA) | ZATCA equity-based formula | 2.5% p.a. | IFI pays to ZATCA | Annual ZATCA return | | Pakistan | Mandatory (deduction at source) | Deduction on savings accounts | 2.5% on qualifying accounts | Bank deducts as agent | 1st Ramadan each year | | Bahrain | Voluntary (institutional) | AAOIFI GS9 / Hanafi | 2.5% p.a. | IFI may pay on behalf of shareholders | Annual disclosure | | Malaysia | Voluntary | AAOIFI GS9 / Hanafi or Shafi'i | 2.5% p.a. | IFI voluntary; disclose | Annual disclosure | | UAE | Voluntary | AAOIFI GS9 | 2.5% p.a. | IFI voluntary; disclose | Annual disclosure | | UK | Not applicable | N/A | N/A | Individual obligation only | N/A | | Nigeria | Voluntary | AAOIFI GS9 | 2.5% p.a. | Voluntary | Annual disclosure | --- ## THE NISAB THRESHOLD The nisab is the minimum wealth threshold above which zakat becomes obligatory. Two measures, take the lower (traditionally silver nisab is used for financial assets): **Gold nisab:** Equivalent of 87.48 grams of gold (at current gold price) **Silver nisab:** Equivalent of 612.36 grams of silver (at current