Dr. Monzer Kahf, a prominent economist and counselor, states: “If one has gold currency and decide to keep them for themselves, you have to estimate their prices and add them to your other assets that are subject to Zakah (mainly cash, bank accounts, investments in stocks and similar debts on others). The moment you have an amount of nisab (approximately US $1,000)—if you did not already have it—you begin counting a lunar year (= 354 days). On the last day of this lunar year you are required to pay Zakah at the rate of 2.5% of the total you then have at the market prices on that day.
Zakah on Gold Currencies
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