Jakarta (ANTARA) - Having savings is a key part of financial\nmanagement for many people. However, for Muslims, stored wealth is also\nsubject to zakat regulations if certain requirements are met.<\/p>\n
The National Board of Zakat (BAZNAS) explains that savings are\nincluded under zakat mal (wealth zakat). Nevertheless, not all savings\nare automatically subject to zakat. There are specific conditions that\nmust be met, particularly regarding ownership, nisab (minimum\nthreshold), and haul (period of ownership).<\/p>\n
So, when is savings mandatory to be zakat-ed and how is it\ncalculated? Here is the explanation.<\/p>\n
Savings that are subject to zakat must be under the full ownership of\nan individual. This means the owner has the right to use or derive\nbenefit from that wealth.<\/p>\n
Nisab is the minimum threshold of wealth that makes zakat mandatory.\nFor savings, BAZNAS uses a reference value equivalent to 85 grams of\ngold. Because gold prices fluctuate, the nisab value in Rupiah can also\nchange. Therefore, it is inaccurate to determine zakat obligations based\nsolely on a fixed nominal amount without comparing it to the value of 85\ngrams of gold.<\/p>\n
In addition to reaching the nisab, savings must also meet the haul\nrequirement, meaning they have been held for one Hijri year. This\nprovision is one of the requirements for savings zakat according to\nBAZNAS. If the savings balance fluctuates during this period, the\ncalculation must be carefully managed based on the wealth conditions and\nthe applied zakat regulations. For cases with highly volatile balances,\nowners may consult with zakat officials (amil).<\/p>\n
The wealth to be zakat-ed must also originate from halal\n(permissible) sources. BAZNAS includes deposits, account balances, and\nother forms of savings held by an individual as wealth that can be\ncalculated for zakat if the conditions are met.<\/p>\n
If savings have met both the nisab and haul, the zakat rate applied\nis 2.5 per cent. The calculation can be performed using the formula:<\/p>\n
Zakat = amount of savings subject to zakat \u00d7 2.5 per cent.<\/p>\n
For example, if an individual has savings of Rp200 million that have\nmet the nisab and haul, the zakat to be paid is Rp200 million multiplied\nby 2.5 per cent, which is Rp5 million. However, this example only\nillustrates the method. To determine if savings are truly subject to\nzakat, the balance must still be compared to the current applicable\nnisab.<\/p>\n
What if one has multiple accounts?<\/p>\n
An individual may have more than one account, including daily\ntransaction accounts, savings accounts, and fixed deposits. In such\ncircumstances, all relevant savings must be calculated according to\nzakat provisions. BAZNAS provides an example where balances from\ndifferent accounts and deposits can be aggregated to determine if the\ntotal wealth has reached the nisab. Therefore, owners of multiple\naccounts should not look at the balance of a single account when\ndetermining zakat obligations.<\/p>\n
Is Rp100 million in savings subject to zakat?<\/p>\n
The answer depends on the value of the nisab and whether the savings\nhave met the haul requirement. BAZNAS provides an example of Rp100\nmillion in savings that has reached the nisab and been held for one\nyear. In that case, the zakat is calculated at 2.5 per cent, or Rp2.5\nmillion. This means a nominal amount of Rp100 million cannot be used as\nan absolute benchmark for whether everyone with that amount is\nautomatically obligated to pay zakat. The nisab value follows the price\nof gold.<\/p>\n
Savings zakat is different from income zakat. Income zakat relates to\nearnings from work or profession, whereas savings zakat relates to\nstored wealth that meets the zakat mal criteria. Through Fatwa Number 3\nof 2003, the Indonesian Ulema Council (MUI) established that halal\nincome is subject to zakat if it reaches the nisab equivalent to 85\ngrams of gold, at a rate of 2.5 per cent. Meanwhile, BAZNAS also has its\nown provisions regarding the nisab for income and service zakat for\n2026.<\/p>\n
Consequently, individuals who receive income and subsequently save a\nportion of it need to understand which type of zakat is being calculated\nto avoid errors in fulfilling their obligations.<\/p>\n
When should savings zakat be paid?<\/p>\n
Savings zakat is paid when the wealth meets the established criteria,\nparticularly reaching the nisab and haul. BAZNAS defines the haul for\nsavings as ownership for one Hijri year. For individuals with complex\nfinancial situations\u2014such as multiple accounts, deposits, debts, or\nfluctuating balances\u2014calculations can be consulted with zakat officials\nor trusted zakat institutions.<\/p>\n
Thus, savings are not automatically subject to zakat simply because\nthe money is in an account. The obligation arises only when savings meet\nthe applicable provisions, including reaching the nisab of 85 grams of\ngold and meeting the haul requirement. If all conditions are met, the\nrate for savings zakat is 2.5 per cent.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/when-is-savings-subject-to-zakat-requirements-and-calculation-methods-explained-1790557354", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }