Zakat gold and money

قال الله تعالى: "وَٱلَّذِينَ يَكْنِزُونَ ٱلذَّهَبَ وَٱلْفِضَّةَ وَلَا يُنفِقُونَهَا فِى سَبِيلِ ٱللَّهِ فَبَشِّرْهُم بِعَذَابٍ أَلِيمٍۢ" (التوبة: 34)

The obligation of Zakat upon Muslims is one of the greatest aspects of Islam’s justice and care for its followers. It holds numerous benefits and is essential for supporting the poor and needy. Among its virtues is strengthening the bonds of love between the rich and the poor, as people naturally develop affection for those who show them kindness.

Zakat is a fundamental obligation and one of the five pillars of Islam. It is a duty upon every sane, capable, and accountable Muslim. Scholars throughout all ages have unanimously agreed on the obligation of Zakat on gold and silver, and by analogy, on all forms of currency. The prescribed rate of Zakat is 2.5%, subject to specific conditions.