Nisab Amount in Taka – Zakat Calculator in Bangladeshi Taka: It is now well recognized that Zakat, the fourth pillar of Islam, is an effective tool in reducing poverty and social inequality. As it is a Muslim inhabited country, the effect of Zakat on the society of Bangladesh is not seen enough. Thus it indicates that the collection of Zakat is not sufficient and effective. For many deserving Muslims, the principles and rules of zakat are still not clear. Thus, they have not yet paid attention to the well-planned and precise payment of Zakat. The government has no proper policy except for a zakat fund run by the Islamic Foundation. Thus, about 90 percent of the Muslim population of the country is struggling to eradicate poverty while its economy is growing at an annual rate. Usually, he or she will get 20 per cent less than the quoted market price. So, an individual’s sell price of seven and a half tola gold will be Tk 395,963, and the amount is the Nisab for him or her in the gold standard. For 52 and a half tola silver, the selling price or Nisab amount will be Tk 60,287 only.
Nisab Amount in Taka
As more and more people have become more affluent and wealthy due to continued economic growth over the past two decades, so has the number of Muslims eligible to pay zakat. However, a good number of them are still not aware of the effective distribution of zakat. So there is still a common practice of distributing clothes in the name of zakat among the poor in Ramadan. The insanity of collecting a piece of cloth every year kills many. Nisab Amount in Taka – Zakat Calculator in Bangladeshi Taka
Principles of Zakat:
The principles and basic values of Zakat need to be widely understood by all Muslims. Zakat is one of the five basic pillars of Islam. The five pillars are: Sahada (faith), Salat (prayer), Saom (fasting), Zakat (poor-tax) and Hajj (pilgrimage). Professor Syed Ali Ashraf, a prominent Islamic scholar and educator, explains in his book Islam (The Islamic Academy, Cambridge): It is considered as a trust (Amanah). Therefore, it is obligatory for every human being to give a certain percentage of their wealth to the poor at the end of each lunar year. This obligatory duty is known as Zakat. The Qur’an repeatedly emphasizes on Salat and Zakat. He explained the obligatory duty by saying: ‘Allah has made zakat obligatory to purify your remaining property.’ (P.17).
He further wrote:
“The Qur’an classifies the people who should receive zakat and the Prophet explained the rules for paying different kinds of property. The authorities then work on those foundations and formulate rules derived from the practice of the Prophet. And the first four caliphs. The basic principles of zakat. He pointed out that wealth should not be hoarded and distributed so that wealth could circulate, and that the person who pays zakat is not doing any good to the poor;
According to the Qur’an, eight types of people are eligible for zakat. These are: (1) the poor, (2) the needy, (3) responsible for collecting and distributing zakat, (4) providing services to win the hearts of the people, (5) freeing the slaves. . , (6) Forgive the debtors, (7) In the way of Allah, and (8) To help the wayfarers. [(Surah At-Tawba, verse 60]
There are two types of charity in the Islamic system. One is sadaqah or voluntary giving. Another is zakat or obligatory giving. It is an obligation for those who have sufficient resources and disposable income. Since it is an obligatory duty for all Muslims, physically, mentally and financially, an accurate calculation is required to determine the amount to be paid in Zakat.
Calculation of Zakat:
The primary condition for eligibility to pay Zakat is to have a minimum surplus of wealth at the end of a lunar year, known as nisab of physical and financial wealth. There are two criteria for determining nisab. One is the Gold Standard, which stipulates that a Muslim must be entitled to at least seven and a half tola or bhori (87.50 grams) of gold or the equivalent of one year after the distribution of all his personal and family needs and the payment of obligations. Another is the Silver Standard or at least 52.50 tola or bhori (613 g) silver or equivalent money right.
Zakat Calculator in Bangladeshi Taka
Due to the huge difference in the price of gold and silver, Nisab’s Sliver Standard offers very low thresholds to make Zakat payment compulsory. For example, at present, (April 17 quoted by Bangladesh Jewelers Association) the price of 21-carat gold per gram is Rs. 5,655 or Rs. 21-carat silver costs Rs 123 per gram or Rs 1,435 per tola. On the basis of these market prices, the price of seven and a half tola of gold stood at Rs. 494,954 and the price of 52 and a half tola of silver stood at Rs. However, if one wants to sell his gold or silver ornaments, he will not get the price. Typically, he will receive 20 percent less than the market price quoted. So the selling price of seven and a half tons of gold per person will be 39 rupees Nisab Amount in Taka – Zakat Calculator in Bangladeshi Taka
Nisab Amount in Taka – Zakat Calculator in Bangladeshi Taka