Daily Nisaab Prices

22 August 2019 / 20 Dhil Hijja 1440
Nisáb = R6288.94
Silver = R10.27/g (R319.45/oz)
Gold = R846.81 /g (R22 873.41/oz)

Prices & Calculations include VAT

What is the meaning of Nisáb?

Nisáb is a minimum amount of wealth which makes one liable to pay Zakáh. The person who possesses an amount equal to or greater than this specified minimum wealth, which remains in his or her possession for a period of one year is considered wealthy enough to pay the Zakáh.

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icon2With overall unemployment in South Africa estimated at 25% and 49% of South Africans living on R25 or less per day, many South Africans would be destitute without the support of social welfare from government and NGOs. Typically, the poorest households don’t have savings and are disposed to periods in which they have run out of money for food. By providing cash grants to meet their basic needs, these households are able to retain their dignity, integrate into society and desist from begging. Clients on this programme are provided with monthly cash grants on a temporary basis. In the interim they are given the opportunity to recover, find employment or join one of SANZAF’s developmental programmes. In addition, dependents are appraised and supported holistically e.g., in terms of schooling and other educational needs. If a client is unable to recover from the situation, they may be moved to a permanent support programme or referred to other stakeholders for further assistance and support. Elderly, terminally ill or frail family members who are unable to go out and seek employment head many of these households. In the current year SANZAF has 116 welfare clients that they help on a monthly basis.