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9 min de lecture

Zakat: Wealth Purification in NIB

Zakat is one of Islam's five pillars and a powerful tool for wealth redistribution. Learn what qualifies, how to calculate it, and its economic impact.

Zakat is a mandatory annual payment by eligible Muslims — 2.5% of their qualifying wealth above the Nisab threshold — redistributed to eight specified categories of beneficiaries.

The Nisab Threshold

Zakat only applies if your net qualifying assets exceed the Nisab — the minimum wealth threshold. There are two ways to calculate Nisab:

  • Gold Nisab: Value of 85 grams of gold (approximately GHS 35,700 at current gold prices)
  • Silver Nisab: Value of 595 grams of silver (approximately GHS 3,270 at current prices)

    • Scholars generally recommend using the silver Nisab as it is more inclusive.

    What is Zakatable?

  • Cash and bank balances
  • Gold and silver (jewellery above personal use)
  • Stocks and shares (at market value or based on underlying asset values)
  • Business inventory and trade goods
  • Receivables likely to be collected
  • Agricultural produce (different rates apply)

    • What is NOT Zakatable?

  • Primary residence
  • Personal use items (furniture, clothing, vehicles for personal use)
  • Business machinery and fixed assets used in production
  • Unpaid debts owed by you (can be deducted)

    • Zakat's Economic Role

    Zakat is one of the world's most sophisticated wealth redistribution mechanisms. In Ghana, Zakat funds support:

  • Food assistance programmes
  • Educational scholarships
  • Small business grants for the poor
  • Healthcare support
  • Debt relief

    • Use our Zakat Calculator on the Tools page to calculate your exact Zakat obligation.

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