Fluctuation in Nisaab

Question ID: 
2057
Soc***@gmail.com asks:

Question

Asssalamualaikum,
Please may we know the reason for the increase in nisaab and zakaat on 18/20 carat gold has increased compared to last year,
But the fidya is same as last year.
Jazakumullah

Answer

Wa alaikumussalaam warahmatullaahi wabarakaatuh

Nisaab rate depends on the fluctuation value of gold and silver. This year the price of silver and gold has gone up significantly, hence the nisaab as well. Whereas the calculation of fidyah is based on consumption goods like wheat, flour, barley, raisin, dates, etc. and it is not calculated based on gold and silver. Normally here we calculate it on wheat and the average price of wheat is almost the same as it was last year according to our findings. Therefore the price for fidyah remained intact.

Approved by:
Mufti Usmaan
For the Jamiatul Ulama of Mauritius