Zakat on the basis of Gold or Silver?

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Question: The price of silver is very low as compared to the price of gold in our country. Should we pay zakaat on the basis of silver or on the basis of Gold ?

Answer: Zakaat Nisaab should be calculated on the basis of the current price of silver irrespective of the relatively low price of silver.

and Allah Ta'ala Knows Best

Mufti Muhammad Kadwa
FATWA DEPT
 

Article taken (with Thanks) from Islam.tc