State Bank of Pakistan Announces Zakat Deductions for 2019

The State Bank of Pakistan will charge 2.5 percent Zakat on the first day of Ramadan on any account maintaining a minimum of Rs. 44,415 balance in savings, profit and loss sharing or similar bank accounts.

However, this does not apply to people who have a balance less than the limit or have submitted their Zakat exemption affidavit by the 15 Shaban or April 21 (given deadline), said a notification from SBP.

“According to Administrator-General Zakat, Ministry of Religious Affairs and Interfaith Harmony, Nisab for Zakat for the year 1439-40 AH is Rs. 44,415 (Rupees forty-four thousand four hundred fifteen only),” it said.

The minimum amount set for zakat deduction this year is Rs. 5,217, it added. Current account holders are also exempted from the deduction.

The first day of Ramadan is expected on Tuesday, May 7 (subject to sighting of the moon).

As per the Shariah law, the Nisab for Zakat is calculated to be equivalent to 52 tolas worth of silver (or 606.32 grams).

According to the sources, the total Zakat collection during the fiscal years 2015-2017 remained close to Rs. 17.7 billion.

  • Koi Audit Nahi Hota Koi Report Nahi Ati
    ” Kitna Aya
    ” Kitna Kis Kis Bank Se Aya
    ” Kitna Kis Cities Se Aya
    ” Kitna Aur Kaha Kaha Disbursement Howa
    ” Kin Kin Gharee*bo Ko Fai**da Howa (Directly / Indirectly)
    ” Bus Collection Hoti hai But No Audit

    RIP Policy RIP SBP

    • ye saraa zakat ka paisa Pakistan Bai-tul-Mal mai jata hain. jahan say ye rakam pakistan k ghareebo, baiwaoun mai takseem hota hain.

      • Aj tak Kitni Article Ayai Pakistan BaitULMaal Pe :
        Kitna Income Howa Kitna Aur Kaha Expense Howa :
        Did you have any Report ?

  • Bloody hypocrites. Where does this zakat go? For corruption and amenities for the VIPs? How about some actual accountability as to how our zakat is spent? Make that information public.

      • Can you please guide me on the procedure of this declaration? I didn’t submit it this year so I will use the info to submit it the next year. I’ll give Zakat by hand regardless of the deduction.

        • Just submit an Application to your bank mentioning that you don’t want Zakat Deducions from your account. You will give it personaly to someone needy.

  • Can someone guide, what is meant by this line: “The minimum amount set for zakat deduction this year is Rs. 5,217″… While the zakat nisab for 2019 is 44,415 PKR.

    • It means maximum amount deducted will be 5217 even if your amount 2.5% exceeds this limit.

  • I don’t think so.. I mean, Rs.5217 is the least amount one has to pay. For example Zakat on Rs.44415 (Nisab) should be Rs. 1110 but they will deduct the same Rs. 5217 as this is the base amount declared. Wallah o Aalam

    • The nisab in 2018 was 39198Rs, Now this year added 5217Rs so the nisab of 2019 is 39198+5217=44415Rs
      I think your confusion is clear.

  • i am Muslim from india.. i want zakat this ramadan plz help me plzz
    i am very poor..
    my contact nmb +919752298222

    • Pakistan Wale Paise Bahar Nahi Behj Sakte Aur Indian Bank Main SWift Code K Zaryeh Na MUMKIN
      You should be shift in to Pakistan : Yaha Bohat Se Originazation hai Madad K Liye

  • Itni zakat khaty hen or gurbat phir ni khtam hoti mulk ki gtya system ha ye in logo se koi ye poochhy zakat leny ka to pta ha Ku k Islam me compulsory ha kia sood khaty tum logo ko deen yad ni ata …….deen se doori ha be…..

  • I transferred money from uae to Pakistan bank so as to have some savings back home, after having the money for 3 months only in the bank they deducted close to 30k. Ive heard at least a year shld have passed on the savings i have.

  • I have a question, is this applicable for a particular bank? Or all of the banks? Why would you deduct it directly from our bank accounts? What are we going to do if we want to give our Zakat to the right people who is eligible to receive it? Plus, where will this collected money from us go?

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