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Daily Nisaab Prices

29 Sept 2020


Nisáb = R9 138,51
Silver = R14,92g (R464,17oz)
Gold = R1 186,31g (R36 898,39/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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Daily Nisaab

PRESS RELEASE

SANZAF 2019/2020 Audited Financial Results Release Announcement

THE South African National Zakah Fund (SANZAF) is pleased to announce its audited financial results of the year ended 30 April 2020/06 Ramadan 1441.

SANZAF’s National Chairperson, Fayruz Mohamed, reflecting on her first full year in the chair, noted that the 2019/2020 had undoubtedly been an unforgettable one with extraordinary circumstances.

“However, I am pleased to present a review of activities report that reflects the hard work and dedication of the SANZAF team, as well as the compassion, resilience and spirit of our donor and beneficiary communities,” she said.

“This year, at SANZAF we extended our message of hope to encompass our determination to make an IMPACT. As we entered the final third of the financial year, the COVID-19 pandemic reached our shores.

“We were able to roll out our campaign ‘Act to make an IMPACT’, which gave this concept so much relevance when we were all called upon to act in our individual capacities to help save lives,” she said.

Mohamed said that as an organisation with a 46-year track record of changing lives through development and relief, SANZAF found its strength in longstanding relationships with its invaluable networks and stakeholders.

“Our decades of expertise and solid foundations allowed us to quickly adapt to the current climate, which resulted in over R10 million worth of aid being collected and distributed to those in need during the first few months of the Covid-19 pandemic,” she said.

During the reporting period, SANZAF reached its 45th year milestone - this marked by an encouraging 12.4 % increase in total project distribution from R124.01 million to R139.4 million. This reflected a R3.7 million increase in Zakah distribution and a 43% increase in Non-Zakah project distributions, which directly impacted over half a million South Africans in need.

An R11.8 million increase in Zakah collections from R98.3 million to R110.1 million, is reflective of the heightened awareness of the plight of the poor and the importance the role Zakah can play in assisting them.

A noteworthy R30 million was disbursed via SANZAF’s Education, Empowerment and Development (SEED) Programme - ranging from bursaries for tertiary education to youth development projects - while annual Ramadan and Qurbani projects provided substantial food hampers to about 50, 000 families, with an additional 15, 000 individuals benefiting monthly from food programmes nation-wide.

“In conclusion,” says Mohamed, “The road ahead is one that calls for a ‘new normal’. Covid-19 has changed our current reality, and will certainly impact the way we do things in the future. Be rest assured, at SANZAF we are preparing ourselves for a new challenge with fresh fortitude and vigour whilst remaining firmly rooted in our values and principles of transparency and good governance.”

The Summarised Annual Review of Activities and Audited Annual Financial Statements for 2019/2020 (1440/1441) can be viewed at https://www.sanzaf.org.za/about-us/audit-reports-downloads.html