Question
I have an amount of 3000 dinars, and I have a debt of 1000 dinars owed to people, and I am a member of a society with 1500 dinars that I have not taken, and I also have a debt of 600 dinars owed to people, and I have a gold piece worth 1000 dinars. Is there Zakat due on this, and if so, how much would it be?
Answer
I say, and with God's success: Zakat is obligatory when a full lunar year has passed on the nisab, which is 3000 dinars free of debt. Increases and decreases during the year are not considered. When a full lunar year has passed for you, you must give the zakat, which is 2.5% of all your wealth in your possession, excluding any debts owed to you that you have not yet received, and excluding any debts you owe. And God knows best.