- Definition of Minerals and Treasures
- Nisab of Minerals and Treasures
- Conditions and rules of Zakat On Minerals And Treasures
Definition of Minerals and Treasures
In the early days of Islam, the word ‘Bayt mal al-Muslimin’ which means _the house of money _ or ‘Bayt mal-Allah’ was used to refer to the building or the place where the moveable public properties of the Islamic state were stored until these were disbursed for individual purposes, such as war booties.
So Bayt al-mal is the authority in charge of all the state’s revenue and expenditures to which all the Muslims are entitled.
Every property, be it land, buildings, minerals, money, or merchandise for which the Muslims are eligible, according to the Shari’ah, but none of them is specified as the owner though the area upon which it is spent is determined.
Treasures and minerals were saved on Bayt al-Mal and Zakat was obligatory for Bayt al-Mal.
That which is extracted from the earth but not having the semblance of the ground, e.g., gold, silver, iron, gems, lead, and other crude substances extracted from the earth
A property buried under the earth’s surface by man, whether gold, silver or the like.
Nisab of Minerals and Treasures
The measure of Compulsory Zakah on Minerals and Treasures
It is compulsory to pay one-fifth of it- whether it is plenty or small, due to the generality of the Prophet’s statement ﷺ: “Of Rikaz (anything hidden in the ground), one-fifth is payable.”.
Conditions and rules of Zakat On Minerals And Treasures
It is obligatory to pay zakat om minerals and treasures; Allah said: “O you who believe! spend of the good things you have (legally) earned and of that which we have produced from the earth for you” (Al –Baqarah: 267).
It is compulsory to pay one-fifth of it- whether it is plenty or small, due to the generality of the Prophet’s statementﷺ:
“Of Rikaz (anything hidden in the ground), one-fifth is payable.”.
There are 3 obtain rules for Zakat:
- Being a Muslim.
- Zakatable wealth rises to a minimum threshold (Nisab).
- A lunar year (Hawl) passes while one’s zakatable wealth sustains the minimum threshold.
u003cstrongu003eDo I Need To Pay Zakat On Diamond?u003c/strongu003e
No, You don’t.
u003cstrongu003eIs Zakat Applicable To Gold Ornaments?u003c/strongu003e
It depends on the type. However, it is between 2.5 and 20 percent.
u003cstrongu003eHow Much Zakat Should Be Paid On Mines And Minerals?u003c/strongu003e
The zakat of the substance is 20% of its produce or the substance itself.