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Daily Nisaab Prices

16 August 2019 / 14 Dhil Hijja 1440
Nisáb = R6331.80
Silver = R10.34/g (R321.55/oz)
Gold = R849.32 /g (R22 941.99/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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MOST outsiders to Islam understand Zakah as an alms tax, a poor tax, of a Muslim’s wealth. Of course, superficially, it is – but in terms of its real definition, it is not. For Zakah, say Arabic lexicons, means “cleanliness, growth, blessing and praise”.

All these connotations of the word are understood in the context of Qur’an and Hadith, which extol time and time again how Zakah is an investment of the heart. Indeed, we all understand that Zakah is a pillar of faith – together with the profession of belief (the kalimah shahadah), Salah (prayer), Ramadan (the fast) and Hajj (the major pilgrimage.

RAJAB, the seventh month of the lunar Islamic calendar, is as the Qur’an [9:36] tells us, a holy month. “On the day Allah created heaven and earth, He decreed that the number of months should be twelve. Of these, four (Rajab, Dhul Qa’dah, Dhul Hijjah and Muharram) are sacred…”

WE always seem to recognise things around us in cycles. We have the cycles of life (the seven stages of man described by Shakespeare) and the cycles of the weather, today a big concern to us, due to global warming. Then we have the cycle of bear and bull markets, the ups and the downs, on the stock exchanges of the world.